In Saudi Arabia today, Monday, November 8, 2021, the price of gold continued to rise due to the rise of the precious metal at the start of the week’s trading worldwide.
The price of gold in Saudi Arabia today
A gram of 24 carat gold in Saudi Arabia is worth 219.39 riyals ($ 58.49).
Also the price of a gram of 21 carat gold (most traded in the market) is 191.97 riyals ($ 51.18).
The price of a gram of 18 carat gold also rose to 164.54 riyals ($ 43.87).
In terms of economic gold transactions, a gram of 14 carat gold is worth about 127.98 riyals ($ 34.12).
Gold price per ounce and pound
The price of an ounce of gold in Saudi Arabia has risen to 6,823 riyals ($ 1819).
The pound of gold traded at 1536 riyals ($ 409.43) in Saudi Arabia this morning.
Global gold prices
Spot gold rose 0.1% to $ 1,817.65 an ounce in global markets on Monday.
Gold fell from its highest level in more than a year recorded on Friday. A weaker dollar increases the attractiveness of gold by reducing its cost to buyers who hold other currencies.
The Federal Reserve stuck to its view on Wednesday that inflation would prove to be “temporary” and would not require a sharp rise in interest rates. After that, the Bank of England surprised interest markets by suspending interest rates.
Among other precious metals, spot silver rose 0.3% to $ 24.25 an ounce.