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Gold prices rise in Saudi Arabia as 21-karat hits 461 riyals

Gold prices in Saudi Arabia climbed on Monday, with 21-karat—the most traded—reaching 461.68 riyals ($123.11) per gram.

Gold prices rise in Saudi Arabia as 21-karat hits 461 riyals

Saudi Arabia has extended an olive branch to the Houthis in Yemen, presenting a two-week ceasefire proposal mediated by Oman. This comes as the Houthis have made significant territorial gains and launched attacks against Saudi Arabian interests. The proposed ceasefire would serve as a window for direct negotiations between Riyadh and the Houthi leadership.

According to Al Akhbar, the Houthis' initial focus would be on addressing their humanitarian demands, with an aim to reach a comprehensive agreement by the end of the truce period. The proposal was reportedly the result of contacts Saudi Arabia had with key regional players such as the United States, Egypt, Pakistan, and Oman.

Oman, a longstanding mediator between Saudi Arabia and the Houthis, was tasked with delivering the Saudi proposal to the Houthi leadership in Sanaa. The Houthis have already been engaged in secret talks with US officials at the US Embassy in Muscat, signaling a potential shift from a military approach to a diplomatic one. The Houthis reportedly expressed their intention to honor the existing ceasefire with Washington and asserted they have no plans to target US vessels.

Despite the Saudi proposal, Houthi demands remain high, including the end of the war, the lifting of the blockade, and the resolution of humanitarian issues. As of now, Saudi Arabia has not confirmed the specifics of the proposal reported by Al Akhbar.

Written by urgent.news from Jerusalem Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.

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