In Saudi Arabia, on Tuesday, March 1, 2022, the price of gold fell today, despite rising prices of the yellow metal in world markets.

Gold prices in Saudi Arabia today

The price of a gram of 24 carat gold in the local market was 230.32 riyals ($ 61.38) when it started trading in Saudi Arabia today, Tuesday.

Also in Saudi Arabia the price of a gram of 21 carat gold (most traded in the market) is about 201.53 riyals ($ 53.71).

The price of a gram of 18 carat gold in Saudi Arabia was 172.74 riyals ($ 46.04) at the start of today’s trading in the local market.

The price of 14 grams of 14 carat gold in Saudi Arabia fell to about 134.35 riyals ($ 35.80) on Tuesday.

The price of an ounce and a pound of gold in Saudi Arabia today

Also, the price of an ounce in Saudi Arabia reached 7163 riyals ($ 1909) during the opening trade on Tuesday.

Meanwhile, the price of a pound of gold in Saudi Arabia today (8 grams 21 carats) is about 1612 riyals ($ 429.67).

Gold prices internationally today

Gold futures for April delivery rose 0.32%, or $ 6.10, to $ 1,906.80 an ounce.

With continued assessment of Eastern Europe’s developments and global economic prospects, gold prices eased their gains as they settled into a trading session on Monday.

Russia and Ukraine have announced the end of the first round of talks in Belarus following a series of Russian military operations against Kiev.

The United States, Europe and Canada have agreed to remove Russian banks from the “SWIFT” system, which connects the global financial institutions, pushing the Russian ruble to record losses and raising the central bank interest rate from 9.5% to 20%.

Investors are waiting for the release of the monthly employment report in the United States next Friday, which could provide clues about the monetary policy decision that the Federal Reserve expects in mid-March.