An increase of 0.4% has been recorded in the prices of gold in the global market. According to Saudi Arabia’s leading news agency Akhbar24, this rise in gold prices has occurred due to reduced concerns about inflation and waiting for important data from America. In the international market, spot gold has reached close to $ 5,213.99 to $ 5,223 per ounce. Its direct effect is also visible in the local market of Saudi Arabia, which is an important update for the investors and expatriates living here.
👉: Oman Holiday Update: 5 days Eid holiday announced in Oman, workers will get March salary first.
Gold price in local market of Saudi Arabia
Gold is considered a safe way of investment in Saudi Arabia. After this change in the global market, there has been a change in prices in the local market also. Indians working in the Gulf who want to take gold home should keep an eye on the new price. Below are today’s estimated prices:
Karat Price (SAR per gram) 24-Karat 626.09 to 645.10 SAR 21-Karat 547.83 to 564.45 SAR 18-Karat 469.57 to 483.82 SAR
Apart from this, the price of one ounce of gold in Saudi Arabia is currently ranging between 19,473.65 to 19,545.71 riyals.
Why did gold prices rise?
There are many big international reasons behind this current boom in the gold market. Investors are mainly keeping an eye on US policies and crude oil prices.
Fall in crude oil prices: Brent crude oil has come close to $ 87.57 per barrel, due to which the fear of rising inflation across the world has reduced slightly.
US Federal Reserve’s decision: The US Federal Reserve is expected to keep interest rates between 3.5% and 3.75% in the meeting to be held on March 18, 2026.
Awaiting CPI data: The market is waiting for the release of America’s Consumer Price Index (CPI) and PCE data, which will clarify the future economic situation.
IEA’s move: The International Energy Agency (IEA) has proposed to extract a large amount of oil from the oil reserves, which has cooled down energy prices and provided support to gold.
