Today, Monday, October 25, 2021, amid a series of price rises for the precious metal in world markets, the price of gold in Saudi Arabia rose slightly.
The price of gold in Saudi Arabia today
The price of a gram of 24 carat gold in Saudi Arabia rose to 217.14 riyals ($ 57.90) this morning, compared to 216.05 riyals ($ 57.61) on Monday.
The price of a gram of 21 gram carat gold (most traded in the market) during trading in Saudi Arabia on Monday rose by about 190 riyals ($ 50.67) compared to 189.05 riyals ($ 50.41) on Sunday.
The price of a gram of 18 carat gold rose to about 162.85 riyals ($ 43.43) in Saudi Arabia at the start of trading on Monday, while yesterday and Sunday it was about 162.04 riyals ($ 43.21).
In terms of economic gold trading, the price of 14 grams of carat gold rose to about 126.66 riyals ($ 33.78) in the first trade on Monday in Saudi Arabia, compared to 126.03 riyals ($ 33.61) on Sunday.
Price of gold per ounce and pound
The price of an ounce of gold rose to about 6757.50 riyals ($ 1802) in Saudi Arabia at the start of trading on Monday, compared to 6720 riyals ($ 1792) yesterday.
The price of a pound of gold rose to about 1519.97 riyals ($ 405.33) in Saudi Arabia on Monday morning, compared to 1512.37 riyals ($ 403.30) on Sunday.
Global gold prices
Globally, gold prices rose at the end of last week’s trade, recording its second consecutive weekly gains, supported by economic data and in anticipation of US monetary policy.
On Sunday, US Treasury Secretary Janet Yellen said the United States had not seen a rise in inflation for a long time and that inflation was likely to return to normal in the second half of next year.
He added: “I do not think we are going to lose control of inflation. The inflation rate will be high next year, but I expect it to improve by the middle of next year.”
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