Gold price in Saudi Arabia today – 15 August 2024

The price of 24-karat gold in Saudi Arabia stood at 3,469 Saudi Riyals (SAR) per Tola on Thursday, August 15.

In addition, the price of an ounce of 24-karat gold is SAR 8,260, whereas 10 grams of yellow metal are being sold in the kingdom for SAR 2,977.

Note: There may be variations in the price due to frequent fluctuations in gold prices throughout the world, including Saudi Arabia.

What influences the gold rate?

The price of gold is influenced by several factors daily, including supply and demand, the value of countries’ currencies relative to the US dollar, foreign exchange rates, interest rates, investor behavior, etc. It is, like oil, a global commodity.

When investors rush to buy precious metal, demand for it rises, affecting the metal’s market price.