Gold Prices in Saudi Arabia Surge on January 10, 2025: A Comprehensive Overview
Gold prices in Saudi Arabia on Friday, January 10, 2025, have captured the attention of investors and consumers alike. As one of the most critical economic indicators, gold prices play a pivotal role in shaping investment and saving decisions. The day witnessed a slight uptick in prices compared to the previous day, reflecting the dynamic interplay of global and local economic factors.
Gold Prices Today in Saudi Arabia
The price of gold in Saudi Arabia varies significantly based on karat purity. On january 10, 2025, the price of 24-karat gold reached 323.05 Saudi riyals (86.15 USD) per gram,making it the highest-priced and purest form of gold available.Simultaneously occurring, 22-karat gold was priced at 296.13 Saudi riyals (78.97 USD), followed by 21-karat gold at 282.67 saudi riyals (75.38 USD). For those seeking more affordable options, 18-karat gold stood at 242.29 Saudi riyals (64.61 USD), while 14-karat gold was priced at 188.45 Saudi riyals (50.25 USD).
| Karat | Price per Gram (SAR) | Price per Gram (USD) |
|———–|————————–|————————–|
| 24K | 323.05 | 86.15 |
| 22K | 296.13 | 78.97 |
| 21K | 282.67 | 75.38 |
| 18K | 242.29 | 64.61 |
| 14K | 188.45 | 50.25 |
Used Gold Prices in Saudi Arabia
The price of used gold differs from new gold due to factors such as the condition of the piece and market demand. Typically,merchants buy used gold at a lower price to account for recycling costs and profit margins. On January 10, 2025, the price of 24-karat used gold was approximately 310 Saudi riyals, while 21-karat used gold was priced at 270 Saudi riyals, and 18-karat used gold stood at 230 Saudi riyals.
Gold Bullion Prices in Saudi Arabia
Gold bullion remains a preferred choice for investors due to its high purity and value. The price of bullion is steadfast by its weight and karat. On January 10, 2025, a 10-gram 24-karat bar was priced at 3,321.00 Saudi riyals, while a 50-gram bar cost 16,378.85 Saudi riyals. For larger investments,a 100-gram 24-karat bar was valued at approximately 32,693.10 Saudi riyals.
Gold Prices at Al Rajhi Bank
Al Rajhi Bank,a leading financial institution in Saudi Arabia,offers gold trading services to its customers.The bank’s prices are influenced by international and local market trends, along with additional fees and commissions. On January 10, 2025, the price of a gram of 24-karat gold at Al rajhi Bank was 322 Saudi riyals, while a 50-gram bullion was priced at 16,100 Saudi riyals. The price per ounce stood at 6,030 Saudi riyals.
Factors Influencing Gold Prices
The price of gold is influenced by a myriad of factors, including:
- Global economic Conditions: Changes in inflation rates and interest rates significantly impact gold prices. High inflation or lower interest rates often drive demand for gold as a hedge against economic uncertainty.
- Exchange Rate Fluctuations: The value of the US dollar against the Saudi riyal plays a crucial role.A stronger dollar increases the cost of importing gold, thereby affecting local prices.
- Supply and Demand: Increased demand for gold, whether from investors seeking a safe haven or consumers in local and global markets, leads to higher prices.
- Political and Economic Events: Geopolitical crises and economic instability frequently enough push investors toward gold, driving up its prices globally.
Conclusion
Gold prices in Saudi arabia on January 10, 2025, reflect the intricate balance of global and local economic dynamics. whether you’re an investor or a consumer, understanding these trends is crucial for making informed decisions.For the latest updates on gold prices, visit Gold Rate in KSA or explore live Price of Gold for real-time insights.
Stay tuned for more updates on the ever-evolving gold market, and don’t forget to check out price Gold for comprehensive gold price analysis.
