Gold prices in Saudi Arabia saw a slight decrease during trading on Thursday, February 26, influenced by the volatility prevailing in global markets for the precious metal. This movement comes as investors and consumers alike await global economic data that could impact price trends in the coming period. The price of a gram of 21-karat gold, the most popular and traded type in the Saudi market, recorded a slight decline, reflecting the prevailing cautious sentiment.
Historical background and the importance of gold as a safe haven
Historically, gold is considered one of the oldest and most stable investment assets, sought after by investors as a "safe haven" during times of economic and political crisis. When uncertainty increases, whether due to high inflation, stock market volatility, or geopolitical tensions, demand for gold tends to rise, driving its price upward. This inverse relationship with risk makes monitoring gold prices an important indicator of "risk appetite" in global markets. Its price is directly affected by the interest rate decisions of major central banks, particularly the US Federal Reserve, as well as the strength of the US dollar, in which gold is priced globally.
Impact of global prices on the Saudi market
The movement of gold prices in Saudi Arabia cannot be separated from its global trajectory. The local market is directly affected by the price per ounce on international exchanges. This slight decrease today reflects a balance between downward pressures such as the strength of the dollar and expectations of continued high interest rates, and upward pressures such as sustained demand from central banks and geopolitical concerns. For Saudi consumers, this fluctuation influences purchasing decisions, especially for those about to get married or those looking to buy gold gifts and jewelry. As for investors, every volatility represents an opportunity for speculation or for increasing their holdings of the precious metal as a hedge and a way to preserve the value of their savings over the long term.
Gold price list in Saudi Arabia today
The prices of different gold karats in the Saudi market today, Thursday, are as follows:
- The price of a gram of 24-karat gold reached 624.75 riyals, compared to 625 riyals at yesterday's closing.
- The price of a gram of 22-karat gold has decreased to 572.5 riyals, compared to 572.75 riyals yesterday.
- The price of a gram of 21-karat gold: recorded 546.5 riyals, compared to 546.75 riyals in yesterday's trading.
- The price of a gram of 18-karat gold: It settled at 468.5 riyals, which is the same closing price as yesterday.
- The price of a gram of 14-karat gold reached approximately 364.5 riyals.
- The price of a gram of 12-karat gold has decreased to 312.25 riyals.
Prices of gold per ounce and pound
In terms of larger-scale trading, the price of an ounce of gold in Saudi Arabia today reached 19,429 riyals, while the price of a gold pound reached 4,372.5 riyals, providing important indicators for investors in bullion and raw gold.
