Gold prices in Saudi Arabia increased during early trading on Sunday, February 28, 2021, despite the decline in the price of the precious metal globally.
The price of 24 caliber gold in the Kingdom reached 209.06 riyals ($55.75), compared to 208.22 riyals ($55.52) yesterday.
The price of 21 per gram of gold (the most heavily traded in the Kingdom) increased slightly to 182.39 riyals ($48.78), compared to 182.19 riyals ($48.58) at the close of Saturday trading.
The price of a 18-gauge gram was about 156.80 riyals ($41.81), compared to 156.16 riyals ($41.64) yesterday.
The price of 14-carat gold in Saudi Arabia was 121.95 riyals ($32.52), compared to 121.46 riyals ($32.39) on Saturday.
Ounces and pounds gold
The price of an ounce (ounce) in Saudi Arabia was 6,502 riyals ($1,734) and the pound of gold (8 grams of 21 caliber) was 1,463.52 riyals ($390.67).
Globally, gold prices fell at the latest close, Friday, to the lowest level in a week, heading towards a second weekly and monthly decline, respectively, as brighter economic prospects and inflation concerns support U.S. Treasury yields.
Spot gold fell 0.1 percent to $1,767.81 an ounce, after falling earlier to its lowest level since February 19 at $1,764.90. Prices are down 0.8 percent in the week and 4.2 percent since the beginning of the month.
The National Centre for Debt Management announced the completion of its second international issue of euro bonds as part of the Saudi Government’s debt instrument ation programme.
The total number of subscription requests amounted to more than 5 billion euros ($6 billion), with coverage more than three times the total issue.
The total offering amounted to 1.5 billion euros (6.83 billion Saudi riyals), divided into two segments: 1 billion euros (4.55 billion Saudi riyals) for 3-year maturity bonds in 2024.