Riyadh: The fall in gold prices in the global market has had an impact on the Saudi gold market as well.
Jerome Powell, chairman of the US Federal Council for Secured Assets, indicated that the rate of return would rise in March.
According to Saudi media, gold prices were relatively high when the gold market opened in the kingdom on Thursday. Twenty-four carat gold was available at 219.52 riyals per gram.
The price of 21 carat gold was 192.09 riyals and 18 carat gold was available at 164.64 riyals. In addition, 14 carat one gram of gold was being sold at 128.06 riyals.
The price of one ounce of gold was 6827 riyals while the price of gold guinea was 1537 riyals.
According to Gold Price.com, the price of 24 carat gold dropped by 216.05 riyals, 22 carat gold by 198.05 riyals, 21 carat 189.05 riyals, 18 carat 162.04 riyals and 14 carat 126.03 riyals.
Similarly, one ounce of gold was sold at 6720 and purchase price was recorded at 6723.75 riyals while 21 carat 8 gram gold guinea was 1512.37 riyals and 22 carat 8 gram gold guinea was 1584.39 riyals and 24 carat 8 gram gold guinea was 1728.43 riyals. Û”
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