2023-08-22 00:03:43
In the world of economy and investment, gold is one of the most important assets that investors follow regularly, especially in the Kingdom of Saudi Arabia, as it is considered one of the basic commodities that have been affected by many economic variables. Today, we bring you the latest price developments in the local markets.
Gold is one of the most important assets and commodities in the global financial markets. Although it has been known throughout history as a “safe haven” for investment, its price is not without fluctuations. Let’s dig into the reasons for these fluctuations:
Economic factors: Gold prices are affected by the global and local economic situation. In times when economies are experiencing weakness or recession, investors tend to buy more gold as a safe haven, which drives up its price. Exchange Rates: Gold prices are directly affected by the strength of the US dollar, as gold is traded globally in dollars. When the dollar strengthens, the price of gold may fall, and vice versa. monetary policy: Interest rates and policies adopted by central banks play a big role. When interest rates are low, gold investment becomes more attractive. Geopolitical situation: Political events, wars and tensions between countries are among the factors that affect the demand for gold as a safe haven. Production and supply: In cases of scarce supply or increased costs related to mining and production, gold may see a price hike. Material request: The demand for jewelry and industries that use gold as a primary component plays a role in determining its price.
The latest gold price updates today in the Kingdom
We noticed a slight decrease in the gold price today in the Kingdom of Saudi Arabia. To help you see things clearly, we have collected the prices for you as follows:
The price of a gram of 24 karat gold In riyals: 227.51 in dollars: 60.67 The price of a gram of 22 karat gold In riyals: 208.55 in dollars: 55.61 The price of a gram of 21 karat gold In riyals: 199.07 in dollars: 53.09 The price of a gram of 18 karat gold In riyals: 170.63 in dollars: 45.50 The price of a gram of 14 karat gold In riyals: 132.71 in dollars: 35.39
Gold pound and its prices today
But if you are a follower of the gold pound, here are the highlights of what happened today:
21 karat gold pound: 1,911.06 riyals. 22 karat gold pound: 2,002.06 riyals. 24 karat gold pound: 2,184.07 riyals.
In light of what the markets witnessed today, gold remains a safe haven for many, but investors should always monitor price developments and careful analysis to ensure a successful investment. And remember, in the world of gold, anything is possible
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