Gold prices rise in Saudi Arabia

Gold prices in Saudi Arabia experienced a new increase across all denominations, coinciding with a decline in inflation fears related to a peace agreement in the Middle East. This led to the largest weekly gains in global gold prices since the beginning of the year. The price of 24-karat gold per gram reached approximately 523.49 SAR (139.6 USD), while 21-karat averaged 458.06 SAR (122.1 USD), and 22-karat hit 479.87 SAR (127.9 USD). Gold bullion prices also rose, with a 10-gram 24-karat bar priced at 5,381.5 SAR (1,435.1 USD), a 50-gram bar at 26,541.1 SAR (7,077.6 USD), and a one-kilogram bar at 527,159.1 SAR (140,575.8 USD). Global gold prices surged by 7.39% over the week, with the price per ounce reaching its highest level since June 17. China continued increasing its gold reserves, registering 2,366 tons—the highest level in years.

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