The price of a gram of 24 carat gold was 224.61 riyals (59.88 dollars) compared to 224.49 riyals (59.86 dollars) yesterday.
The price of a gram of 21 carat is the best selling in the Kingdom of 196.54 riyals (52.40 dollars), compared to 196.43 riyals (52.38 dollars) yesterday, and these prices before calculating the “factory” seller.
The price of 18 carat gold increased to record 168.46 riyals (44.94 dollars) compared to 168.37 riyals (44.90 dollars), and the price of an ounce of gold was 6985.50 riyals (1862.48 dollars).
The price of the pound of gold (8 grams of 21 carat) was about 1571.45 riyals (419.05 dollars).
Globally
Gold prices rose on Monday as the dollar retreated from a two-month high it hit last week as political uncertainty grew ahead of the first presidential debate between US President Donald Trump and Democratic rival Joe Biden.
Gold rose in the spot market 0.1 percent to 1861.13 dollars an ounce by 0503 GMT. In futures trading in the US, the yellow metal settled at $ 1865.90.
A higher dollar makes the commodities priced in it, such as gold, more expensive for buyers who use other currencies.
“With a lull on the data front, investors seem to want to remain in a state of agility and prudence by leaving their money in the dollar, rather than moving into precious metals or US bonds,” said Jeffrey Haley, senior market analyst at Oanda.
And Saudi Arabia announced, on Monday, that the G20 leaders’ summit will be held on November 21-22, by default.
The G20 countries account for two-thirds of the world’s population, and comprise 85 percent of the global economy and 75 percent of global trade.
And Standard & Poor’s announced fixing Saudi Arabia’s credit rating at A- / A-2, with a stable outlook, despite the impact of low oil prices and the Covid-19 epidemic on the kingdom’s economy and budget.
This means, according to what the agency expected for the major economies in the world, Saudi Arabia’s GDP will shrink by 4.5% in 2020, but from 2021 onwards, GDP growth, oil prices and the volume of oil exports are expected to recover with the improvement of global conditions.
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