Gold prices in Saudi Arabia witnessed a decline at the beginning of trading on Saturday, August 6, 2022.
The price of a gram of 24 karat gold today in Saudi Arabia also decreased to 214.76 riyals ($ 57.15).
And the price of a gram of 21 karat gold fell today, Saturday, in Saudi Arabia (to 187.92 riyals ($ 50.01), compared to 189.34 riyals ($ 50.39), yesterday, Friday.
The price of a gram of 18 karat gold today in Saudi Arabia also decreased to 161.07 riyals ($ 42.86), compared to 162.29 riyals ($ 43.19), yesterday, Friday.
And the economic gold prices today in Saudi Arabia amounted to 125.27 riyals ($ 33.34) per gram of 14 karat gold, compared to 126,231 riyals ($ 33.59).
The price of an ounce of gold today in Saudi Arabia fell to 6,679 riyals (1777 dollars), compared to 6,730 riyals (1791 dollars), yesterday, Friday.
The price of the gold pound today in Saudi Arabia (8 grams of 21 karat) fell to 1503 riyals ($ 400.07) compared to 1515 riyals ($ 403.11), during yesterday, Friday.
And the precious metal managed during the trading week that ended yesterday, Friday, to record its highest level in a month. Despite the inability of gold to maintain its highest levels during the past week, it managed to achieve its third week of gains.
The decline in Treasury yields and growing fears about a recession supported the value of the precious metal, as it is considered one of the safe havens, to remain on the way to achieving gains for the third week in a row.
And gold closed in spot transactions yesterday, Friday, at $ 1775.5 an ounce, after hitting its highest level since the fifth of last July. Prices rose 0.7% this week.
US futures prices also fell below the $1,800 level
10-year Treasury yields fell.