Gold prices in Saudi Arabia edge down after global drop

Gold prices in Saudi Arabia recorded a slight decline across all carats on Saturday, 13-5-1448 (corresponding to the Gregorian calendar), with the price of 21-carat gold and other grades dropping at the start of trading. This coincided with a global decrease in gold prices, as the price per ounce fell below $4,000 before the end of the trading week.

Gold ounce price

On Saturday, the global gold price stood at $3,995 per ounce, down 0.72% at the last closing price before the weekend break. This marks a weekly loss of about 4%, the steepest since June and the second consecutive week of declines.

The drop came amid rising oil prices, which fueled expectations that US interest rates will remain higher for longer, and a sell-off in global equities, in the week ahead of the Federal Reserve meeting on October 27 and 28.

Gold prices in Saudi Arabia today

At the start of trading on Saturday, the price of 21-carat gold in Saudi Arabia was 421.54 riyals (SAR) per gram, compared to 423.99 riyals at the close of trading on Friday.

Gold prices in Saudi Arabia on Saturday, 13-5-1448, for all carats were as follows:

21-carat gold: 421.54 riyals per gram.

24-carat gold: 481.76 riyals per gram.

22-carat gold: 441.62 riyals per gram.

18-carat gold: 361.32 riyals per gram.

Gold ounce buying and selling prices

The buying and selling prices for a gold ounce in Saudi Arabia today were:

Gold ounce selling price: 14,984.44 riyals.

Gold ounce buying price: 14,988.19 riyals.

Gold sovereign prices in Saudi Arabia today

The price of a gold sovereign (8 grams) in Saudi Arabia today was as follows:

21-carat gold sovereign: 4,046.80 riyals.

22-carat gold sovereign: 4,239.51 riyals.

24-carat gold sovereign: 4,624.92 riyals.

Gold bar prices in Saudi Arabia

Gold bar prices in Saudi Arabia today varied by size, ranging from 1 gram up to 1,000 grams. The prices were as follows:

1-gram gold bar: 529.94 riyals.

5-gram gold bar: 2,505.16 riyals.

10-gram gold bar: 4,952.51 riyals.

20-gram gold bar: 9,837.58 riyals.

50-gram gold bar: 24,425.34 riyals.

100-gram gold bar: 48,754.32 riyals.

1-kilogram gold bar: 485,134.38 riyals.