According to data from the Saudi Gold Price website, gold bullion prices in the Saudi market today showed a limited decline in line with the decline in the global 1 oz price, hitting $5,150.38 (R19,661.58), $12.26 lower than the previous close.
The decline reflects limited correction in the global gold market after a continuous wave of gains in the previous quarter, while investors continue to monitor interest rate developments and geopolitical tensions that impact global demand for the yellow metal.
relative stability
Local market data shows that prices for various weights of bullion are relatively stable, with prices as follows: 1 gram gold bar: 683.05 riyals, 2. 5 grams of gold bars: 1,630.02 riyals, 5 grams of gold bars: 3,228.98 riyals, 10 grams of gold bars: 6,383.45 riyals, 20 grams of gold bars. 12,679.98 Riyal, 50 grams gold bar 31,482.60 Riyal, 100 grams gold bar 62,841.01 Riyal, 0.5 oz gold bar 9,879.07 Riyal, full ounce gold bar 19,661.58 Riyal, 0.5 oz. 313,211.54 riyals for a kilo of gold bars, 625,305.35 riyals for 1 kg of gold bars. Gold pounds also recorded different levels depending on the caliber, with 21-karat gold pounds reaching 8 grams: 5,216.05 riyals, 22-karat gold pounds 8 grams: 5,464.44 riyals, and 24-karat gold pounds 8 grams: 5,961.20 riyals.
three elements
Metals market analysts believe that gold’s movement this quarter is related to three main factors. One is the movement of the US dollar and its direct impact on metal prices, the potential for changes in global monetary policy and interest rates, and geopolitical tensions that increase demand for gold as a safe-haven asset.
Observers say any geopolitical escalation or change in central bank policy could put gold back on an upward trajectory in the coming period, as bullion investment demand continues, especially in Gulf markets.
According to data from Saudi Arabia’s gold price website, the price of gold bars in the Saudi market today recorded a limited decline, falling by $12.26 from the previous closing price to $5,150.38 (19,661.58 SAR), in line with the decline in the global one-ounce price.
The decline reflects limited correction in global gold markets after recent consecutive gains, while investors continue to monitor developments in interest rates and geopolitical tensions that impact global demand for the yellow metal.
relative stability
Local market data shows that prices for different weights of bullion are relatively stable, with prices as follows: 1 gram gold bar 683.05 SAR, 2.5 gram gold bar: 1,630.02 SAR, 5 gram gold bar 3,228.98 SAR, 10 gram gold bar 6,383.45 SAR, 20 gram gold bars 12,679.98 SAR, 50 gram gold bars 31,482.60 SAR, 100 gram gold bars 62,841.01 SAR, 0.5 oz gold bars 9,879.07 SAR, full oz gold bars 19,661.58 SAR, 0.5 kg gold bars 313,211.54 SAR, kg gold bars 625,305.35 SAR. Additionally, gold pounds recorded different levels based on purity, with 8 grams of 21 karat gold pounds costing 5,216.05 SAR, 8 grams of 22 karat gold pounds of 5,464.44 SAR, and 8 grams of 24 karat gold pounds of 5,961.20 SAR.
three elements
Metals market analysts believe that gold’s movement this quarter is related to three main factors. One is the direct impact on US dollar movements and metal prices, the potential for changes in global monetary policy and interest rates, and geopolitical tensions that increase demand for gold as a safe-haven asset.
Observers say any geopolitical escalation or change in central bank policy could put gold back on an upward trajectory in the coming period, given continued investment demand for bullion, especially in Gulf markets.
