Gold prices in Saudi Arabia showed relative stability today, with 24K gold priced at 484.50 Riyals. Citizens and investors closely follow price developments, especially with the impact of global changes on the local market. This comes amid market anticipation of any developments that might affect the price of the yellow metal globally and locally.
Gold Prices Today in Saudi Arabia
- 24K: 484.50 Riyals
- 22K: 370.75 Riyals
- 21K: 421.75 Riyals
- 18K: 361.50 Riyals
- 14K: 236.00 Riyals
- 12K: 202.25 Riyals
- Ounce: 12,580.50 Riyals
- Gold Pound: 3,392.25 Riyals
- Ounce in USD: 3,356.38 dollars
UBS bank has forecasted that gold prices will rise to 4,200 dollars per ounce in the coming months, as the opportunity cost of holding gold decreases due to lower real interest rates in the United States. Additionally, the expected continued weakness of the US dollar generally acts as another supporting factor for gold.
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