Local gold prices decline to SAR 489.84 per gram amid weaker international rates and USD/SAR exchange movements.
Gold prices in Saudi Arabia fell to SAR 489.84 per gram on Monday, down from SAR 497.35 on Friday. The decline reflects adjustments based on international gold rates and the USD/SAR exchange rate, converted to local currency and measurement units.
Prices are updated daily using market rates at publication time. While indicative, local rates may vary slightly due to regional factors. Gold remains a key safe-haven asset and hedge against inflation, with central banks increasing reserves by 1,136 tonnes in 2022.
No immediate market reaction was reported in the local context.