Gold prices today in Saudi Arabia, Monday, November 1, 2021

Gold prices today in Saudi Arabia, Monday, November 1, 2021
Gold prices today in Saudi Arabia, Monday, November 1, 2021

Gold prices fell in Saudi Arabia, today, Monday, November 1, 2021, under pressure from the drop in the yellow metal, at the start of the week’s trading in global markets.

The gold price today in Saudi Arabia

A gram of 24 karat gold in Saudi Arabia amounted to 214.97 riyals ($57.32), compared to 215.09 riyals ($57.36), yesterday.

And the price of a gram of 21 karat gold (the most traded in the market) recorded 188.10 riyals ($ 50.16).

The price of a gram of 18 karat gold also fell to 161.23 riyals ($ 42.99), after it recorded yesterday about 161.32 riyals ($ 43.02).

In terms of economic gold transactions, a gram of 14 karat gold reached 125.40 riyals ($ 33.44), compared to a price of 125.47 riyals ($ 33.46) yesterday.

Gold price per ounce and pound

The price of an ounce of gold in Saudi Arabia fell at the start of trading on Monday, to 6,690 riyals (1,784 dollars), compared to yesterday’s price of 6,693.75 riyals (1,785 dollars).

And the price of the gold pound recorded this morning’s trading in Saudi Arabia, 1504.78 riyals ($ 401.27).

Global gold prices

Globally, gold prices extended their losses on Monday, as spot gold fell 0.1% to $1,781.78 an ounce.

US gold futures also fell 0.1% to $1,782.80, according to a Reuters report.

Gold prices fell at the end of last week when settling Friday’s trading, with a strong rise for the US dollar after economic data and with the Fed’s monetary policy meeting awaiting.

Economic data revealed that the personal consumption expenditures index – the preferred measure of the Federal Reserve to track inflation – rose by 4.4% during the twelve months ended last September.

Investors are waiting for the Fed’s meeting next week, with particular interest in when to start reducing asset purchases of $120 billion per month.

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