Gold prices fell today, for the third consecutive session, on the London Stock Exchange, affected by the rise in bond yields and the dollar, but the yellow metal remained above the key level of $2,000, amid expectations of a rate cut at the end of the year.
Gold fell in spot transactions 0.6% to 2003.08 dollars an ounce, down 0.7% during the week.
Gold futures drop
US gold futures fell 0.7% to $2,006.60. Spot silver fell 1.6% to $23.78 an ounce, and platinum fell 1% to $1,082.59.
Palladium rose 0.8% to $1,563.39.
Gold price in Saudi Arabia
Gold prices fell today in Saudi Arabia, with the decline in gold prices in the global market.--
The price of a gram of 24 carat gold today in Saudi Arabia was 242.46 riyals, compared to 242.96 riyals yesterday, while the price of a gram of 21 carat, the most traded in the Kingdom, rose to 212.16 riyals, compared to 212.60 riyals yesterday.
The price of a gram of 18 karat gold today in Saudi Arabia reached 181.85 riyals, compared to 182.23 riyals yesterday.
The economic gold price in Saudi Arabia
As for the economic price of gold today in Saudi Arabia, 14 karat of it reached about 141.43 riyals, compared to 141.73 riyals yesterday, and as for 12 karat, it recorded about 121.23 riyals, compared to 121.48 riyals yesterday.
The price of an ounce of gold today in Saudi Arabia was about 7540 riyals, while the price of a gold pound today in Saudi Arabia, 8 grams of 21 karat, was about 1697 riyals.