Thunderstorms to continue across most of Saudi Arabia until Tuesday
The National Center for Meteorology forecasts ongoing thunderstorms and heavy rain in most regions of Saudi Arabia through next Tuesday.
Gold prices in Saudi Arabia experienced a rise on Saturday, with 21-carat and other carats increasing at the beginning of trading, according to the latest report. This upward trend occurred despite a global decline in gold prices during the previous week. The price of 21-carat gold, like other carats, climbed at the start of trading on Saturday, 27 Jumada al-Thani 1448 (Gregorian calendar date unknown), reflecting a positive market sentiment.
At the commencement of trading, the price of 21-carat gold in Saudi Arabia stood at 429.48 riyals (SAR) per gram, marking an increase from 428.86 riyals at the close of trading on Friday. The global gold price for the week was reported at $4,069 per ounce, a 0.43% decrease from the previous closing price before the weekend. This downward trend follows a 1% drop on Friday, as stronger-than-expected US job data boosted expectations of sustained higher interest rates by the US Federal Reserve.
The higher interest rates, in turn, strengthened the US dollar and elevated Treasury yields, thus impacting gold prices negatively.
Written by urgent.news from Ajel English's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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