Gold prices in Saudi Arabia reach 521 riyals

Gold prices in Saudi Arabia experienced a relatively stable day compared to yesterday, with the price of 24-karat gold per gram reaching approximately 521.1 SAR (138.9 USD), 21-karat at 455.9 SAR (121.6 USD), and 22-karat at 477.7 SAR (127.4 USD). Globally, the price of gold decreased by 0.1%, settling around $4,288 per ounce, amid anticipation of the U.S. Federal Reserve's decision on interest rate hikes, which is expected to include a 25 basis point increase. Gold is considered a safe haven during economic volatility, but rising interest rates tend to reduce its appeal as a non-yielding investment.

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