Thursday, July 18, 2024

Gold Prices Soar to Record Highs in Saudi Arabia Gold Market, Latest Rate Here

The gold market in Saudi Arabia has experienced a significant surge in gold prices, with 24 karat gold per gram reaching an all-time high of 231.98 riyals. This unexpected increase has left both experts and investors amazed, as the global economic landscape continues to change.

According to reports from the Saudi Press Agency, this surge occurred recently, setting a new standard for precious metal enthusiasts. Here’s the price breakdown for various karats of gold:

  • 24 Karat: 231.98 riyals per gram
  • 22 Karat: 212.65 riyals per gram
  • 21 Karat: 202.98 riyals per gram
  • 18 Karat: 173.99 riyals per gram

For those considering larger gold investments, the market rates are as follows:

  • 21 Carat, Eight-Gram Guinea: 1,948.63 riyals
  • 22 Carat, One-Gram Guinea: 2,041.43 riyals
  • 24 Carat, One-Gram Guinea: 2,227.01 riyals

This substantial increase in gold prices even extends to bulk purchases, with one kilogram of gold now commanding a staggering 233,604.13 riyals.

The factors contributing to this remarkable surge in gold prices are complex and continue to be a subject of discussion among market analysts.

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