Gold prices in Saudi Arabia experienced a decline on Wednesday, according to the latest data compiled by FXStreet. The price for gold per gram dropped to 347.90 Saudi Riyals (SAR), compared to the previous day’s price of 349.37 SAR. This decrease reflects a broader trend in gold pricing, with the precious metal becoming slightly more affordable in the local market.
In terms of other units of measurement, the price of gold per tola also saw a reduction, falling to SAR 4,057.82, down from the previous day’s price of SAR 4,074.93. The price adjustments come amid a fluctuating global market for gold, which often impacts local pricing, particularly when adjusted for currency exchange rates and regional factors.
For those looking to purchase gold in different quantities, the following updated prices in Saudi Arabia were noted:
1 Gram: 347.90 SAR
10 Grams: 3,478.99 SAR
1 Tola: 4,057.82 SAR
1 Troy Ounce: 10,820.91 SAR
It’s important to note that FXStreet’s calculation of gold prices in Saudi Arabia is based on international gold price fluctuations, converted to the local currency (SAR) using the USD/SAR exchange rate. The prices are updated daily to reflect current market conditions at the time of publication. These figures, while useful for reference, are not fixed and can vary slightly depending on local market conditions and the exchange rate at the time of purchase.
As global economic factors, such as inflation and currency fluctuations, continue to influence gold prices, these daily updates serve as a useful resource for both investors and consumers looking to track the value of gold in Saudi Arabia. Despite these fluctuations, the demand for gold in the region remains steady, with the metal continuing to be a popular choice for both jewelry and investment.
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