2023-09-01 18:27:52
The price of gold in the Kingdom of Saudi Arabia varies from day to day, according to global markets, and many factors affecting gold and the US dollar.
The price of gold in Saudi Arabia
Its price today, September 2, 2023, was as follows:
As for 24 karat gold, it is about 218.87 Saudi riyals and about 58.33 dollars. As for a gram of 21 karat, it is about 191.51 Saudi riyals, about 51.04 dollars. While 18 karat is about 164.15 Saudi riyals and 43.75 US dollars. In addition, the gold pound is equal to 1532 riyals, about 408.31 US dollars, and the price of an ounce reached 1814 in dollars today.
Factors for the rise and fall of gold
There are many factors that lead to the rise and fall of gold prices:
This is due to a decline in the price of the dollar in the global market, which leads to a rise in gold prices. Therefore, gold globally, its price decreases and rises inversely with the price of the dollar, so when the dollar rises, gold decreases in the global markets. And those global markets rely on data released by the United States and Britain, in addition to Japan and China as well as France and Germany. The US data is considered the strongest and most influential in the price and value of the dollar and gold globally.. As for the local market, it is directly affected by the global market, so the decline of the dollar leads to a decline in gold and its rise in the local market leads to an increase in gold.
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