Saudi Gold Prices Plummet Amid Dollar Strength and Inflation Fears

The price of gold in Saudi Arabia has continued its downward trend, falling to SAR 517.40 per gram for the second consecutive day.

This decline is attributed to a combination of factors, including dollar strength, US inflation pressures, and uncertainty over interest-rate moves.

According to FXStreet data, the price of gold in Saudi Arabia has dropped by 1.87 riyals, or approximately 0.36%, from SAR 519.27 per gram on Tuesday.

The global spot price of gold also declined, slipping 0.15% to USD 4,197.10 per ounce in the latest session covered by market reports.