Prices of gold and silver in Saudi Arabia go down in the recession, buying and selling process

Gold price technical analysis 17 - June, 2013

The price of gold in Saudi Arabia since the beginning of this week, a significant decline, the price of gold continued to decline today in light of the recession experienced by the domestic market and slow the movement of buying and selling process because of the busy month of Ramadan people and their reluctance to purchase.

And decreased price of one gram in 24-carat gold to SR 190.21, compared to SR 191.42 on Friday, while the price of one gram of 21-carat gold carat 166.44 SR 167.54, compared to SR last Friday.
The price of an ounce of gold today 5916.02 SAR compared to the price in the global gold price of £ 1331.52 SR, rates kilo gold 190199.9 SAR.
And to measure the price of gold, the price of silver had declined in Saudi Arabia and the other is dropped by -0.35%. The price of silver, 101.39 an ounce, compared to SR 101.74 SR rate change was -0.35%.

And sales of gold stagnated in recent times, where empty shops selling gold jewelry in the commercial centers of buyers because of the orientation of many consumers to prepare for requests for the month of Ramadan.

The traders in the market that this year’s total, has been disappointing as their sales dropped a total of more than 50 percent, according to the semi-annual sales reports, which was passed in most stores beginning this month.

Globally stabilized gold in the spot market at 1577.06 dollars per ounce by the time 0650 GMT. And prices move in a narrow range between 1530 and 1640 dollars dollars since May.
The price of silver rose 0.07 percent to 27.02 dollars an ounce, while platinum rose 0.05 percent to 1393.25 dollars an ounce. Palladium rose 0.35 percent to 568.39 dollars an ounce.