Gold prices in Saudi Arabia, Thursday, March 18, 2021, rose slightly, despite the return of the precious metal globally.
Saudi GDP in the fourth quarter of 2020 grew by 2.5% compared to the third quarter of the same year.
The Saudi Statistics Authority attributed this to the growth of the oil sector by 2.6% and the non-oil sector by 2.4%.
The price of 24-carat gold in the Kingdom rose to 210.63 riyals ($56.17).
The price of 21-carat gold (the most traded in the Kingdom) also climbed to 184.30 riyals ($49.15).
The price of 18 per gram of gold increased to 157.97 ($42.13).
The price of 14-carat gold was 122.87 riyals ($32.76).
Ounces and pounds gold
The price of an ounce in Saudi Arabia was about 6,555 riyals ($1,748).
The price of the pound gold (8 grams of 21 caliber) was about 1474.40 riyals ($393.17).
Gold falls globally
Gold prices fell, on Wednesday, influenced by increased U.S. bond yields and the rise of the dollar, but remained within a limited range, before the announcement of the outcome of the meeting of the Policy Committee of the Federal Reserve.
Gold fell 0.1% on the spot market to $1,728.52 an ounce by 1354 GMT. In U.S. futures, the metal fell 0.1% to $1,728.90.