Gold Prices in Saudi Arabia Edge Lower on August 2, Despite Strong Global Monthly Gains

Sunday 2 August 2026 08:09

Gold prices in Saudi Arabia experienced a slight decline across all carats on Sunday, August 2, 2026, compared to the closing prices of the previous week's trading sessions.

Globally, gold prices concluded July with their largest monthly gains since February. This upward momentum was primarily supported by scaled-back expectations for U.S. interest rate hikes following the release of weaker-than-expected inflation data.

Meanwhile, gold speculators on the COMEX exchange reduced their net long positions by 3,258 contracts, bringing the total to 120,328 contracts for the current week.

A significant number of investors and individuals closely monitor gold prices in Saudi Arabia, viewing the precious metal as a reliable safe haven for wealth preservation amid ongoing global economic fluctuations.

Gold Prices in Saudi Arabia Today

According to the latest updates from the "Saudi Gold Price" platform, the prices per gram for various carats are as follows:

24-Carat Gold: Reached approximately 487.6 SAR ($130.04).

22-Carat Gold: Recorded 447.0 SAR ($119.2).

21-Carat Gold: Stood at 426.7 SAR ($113.8).

Gold Bullion Prices Today

The current prices for gold bullions in the Saudi market are:

10-Gram Bullion (24K): 5,012.9 SAR ($1,336.8).

50-Gram Bullion (24K): 24,723.5 SAR ($6,592.9).

1-Kilogram Bullion (24K): 491,056.7 SAR ($130,948.5).