Gold prices in Saudi Arabia recorded a slight increase during trading, today, Tuesday, after a decline in the previous days, in parallel with the decline in the prices of the precious metal in global markets.
The price of a gram of 24-carat gold rose this morning in Saudi Arabia, to about 214.17 riyals ($ 57.10), compared to 213.16 riyals ($ 56.84) yesterday.
And the price of a gram of 21 karat gold (the most traded in the market), rose to the level of 187.41 riyals ($ 49.97) compared to 186.51 riyals ($ 49.74) yesterday.
The price of a gram of 18 karat gold in Saudi Arabia this morning also rose to about 160.63 riyals ($ 42.83), compared to 159.87 riyals ($ 42.63) yesterday.
As for economic gold transactions this morning, the price of a gram of 14 karat gold rose to the level of 124.94 riyals ($ 33.31), compared to 124.34 riyals ($ 33.16) yesterday.
And the price of an ounce of gold in Saudi Arabia at the beginning of today’s trading reached 6661.00 riyals (1776 dollars) compared to 6633.75 riyals (1769 dollars) yesterday, and the price of the gold pound increased to about 1499.00 riyals (399.73 dollars) compared to 1492.12 riyals (397.90 dollars).
Globally, global gold prices fell for the second consecutive day when trading yesterday, in conjunction with the rise in the value of US bond yields.
Gold prices extended their losses for the second day, with the 10-year US Treasury bond yield rising at 1.58%, while anticipating the monetary policy outlook of the Federal Reserve and the date for the start of reducing asset purchases.
The price of gold futures contracts for December delivery also fell 0.2%, or $2.60, to reach $1,765.70 an ounce upon settlement.