[XAU/SAR] Gold Prices in Saudi Arabia Rise Despite Global Stability, September 18, 2023

Gold prices in Saudi Arabia rose by 2 SAR on Monday, September 18, 2023. The increase came despite a global stabilization in gold prices.

The price of gold in the spot market settled at 1,924.29 USD per ounce, while the price of gold futures contracts in the United States settled at 1,946.10 USD per ounce.

The rise in gold prices in Saudi Arabia was driven by a number of factors, including the uncertainty surrounding the Federal Reserve’s upcoming monetary policy decision. The Fed is expected to raise interest rates by 75 basis points at its meeting on Wednesday, but some analysts believe that the central bank could surprise investors by raising rates by 50 basis points instead.

Table of Gold Prices in Saudi Arabia