Gold prices dropped in Saudi Arabia on Wednesday, registering a decline across all major units of measurement.
The price of gold fell to 407.62 Saudi Riyals (SAR) per gram, down from SAR 413.81 recorded on Tuesday. The decline was mirrored in other units as well: gold was priced at SAR 4,076.22 for 10 grams and SAR 4,754.42 per tola, compared to SAR 4,826.65 per tola the previous day.
The cost of a troy ounce also declined, reaching SAR 12,678.26.
The drop in prices comes amid broader fluctuations in the global gold market, influenced by a combination of investor sentiment, international economic trends, and currency movements.
Analysts are closely monitoring the shifts, as gold remains a key safe-haven asset in uncertain economic conditions.
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