Crypto
Saudi Gold Prices Plummet as USD Value Wavers
Gold prices in Saudi Arabia fell on Monday to SAR 523.63 per gram and SAR 6,107.48 per tola, down from Friday's rates of SAR 524.23 and SAR 6,114.55 respectively.
The decrease comes as FXStreet compiles gold prices by adapting international prices (USD/SAR) to the local currency and measurement units, with prices updated daily based on market rates at publication time.
Gold has traditionally been seen as a safe-haven asset, used as a store of value and medium of exchange throughout history. Its value is often inversely correlated with that of the US Dollar (USD) and US Treasuries.