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Saturday, May 18, 2024

In Saudi Arabia’s gold market, gold prices are at record highs.

Prices for gold have significantly increased in Saudi Arabia, with the price of 24 carat gold per gram reaching an all-time high of 231.98 riyals. Given the ongoing changes in the global economic environment, both analysts and investors are astounded by this unexpected surge.

The Saudi Press Agency reported that this latest spike set a new benchmark for those who are interested in precious metals. The breakdown of costs for different gold karats is as follows:

A gram of 24 Karat costs 231.98 riyals.
A gram of 22 Karat costs 212.65 riyals.
202.98 riyals per gram for 21 Karat gold.
173.99 riyals per gram for 18 Karat.
The market rates for those thinking about making greater gold investments are as follows:

1,948.63 riyals for a 21 carat, eight-gram guinea.
2,041.43 riyals for a 22 carat, one-gram guinea.

The circumstances contributing to this astounding rise in gold prices are complicated and continue to be a topic of discussion among market analysts, with one kilogram of gold currently fetching a staggering 233,604.13 riyals. This significant increase in gold prices also extends to bulk transactions.

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