Gold prices in Saudi Arabia fell slightly on Thursday, September 14, 2023. The price of 24-karat gold fell by 0.1% to SAR 221.5 per gram, while the price of 22-karat gold fell by 0.2% to SAR 209.5 per gram.
The following table summarizes the prices of gold in Saudi Arabia on Thursday, September 14, 2023:
| Karat | Price per gram (SAR) |
|---|---|
| 24K | 221.5 |
| 22K | 209.5 |
| 21K | 201.5 |
| 18K | 181.5 |
| 14K | 151.5 |
The decline in gold prices in Saudi Arabia is likely due to a number of factors, including the strength of the US dollar and the rising interest rates in the United States. The US dollar is currently trading at a near 20-year high against a basket of other currencies, which makes gold more expensive for buyers using other currencies. Additionally, the rising interest rates in the United States make it more attractive for investors to put their money in other assets, such as bonds, which can also compete with gold as a store of value.
