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Saudi Arabia Gold price today: Gold rises, according to FXStreet data
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FXStreet Forex & Commodities News
Gold prices rose in Saudi Arabia on Wednesday, according to data compiled by FXStreet.
Unit measure Gold Price in SAR 1 Gram 531.34 10 Grams 5,313.32 Tola 6,197.29 Troy Ounce 16,526.76FXStreet calculates Gold prices in Saudi Arabia by adapting international prices (USD/SAR) to the local currency and measurement units.
Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status.
As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal.
A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.