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<h2 class="wp-block-heading"><strong>Gold Market in Saudi Arabia </strong>is our subject:</h2>
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<li><strong>Gold Market in Saudi Arabia </strong>is our subject, but first we should know first that gold has always been respected around the world for its value and rich history. Compared to coins or other types of assets, gold has maintained its value over the years, and people used it as a way to pass their wealth from one generation to the next.</li>
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<li>The year 1792 has been marked as one of the most important years for a currency supporting gold and silver, since the United States of America set the dollar as its standard.</li>
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<li>Just under two centuries later, in 1971, President Richard Nixon withdrew the United States from the gold standard, an economic change that had a major impact on the price of gold around the world. On January 21, 1980, gold prices rose from $35 an ounce to $850 an ounce.</li>
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<li>The price then fell for 20 years, reaching $377.18 in 2001, before rising for the next decade until it peaked at $2,075.08 in 2020.</li>
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<p>Stay with us to read know more about <strong>Gold Market in Saudi Arabia.</strong></p>
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<h3 class="wp-block-heading">What is the <strong>gold market?</strong></h3>
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<li>You can notice in the<strong> gold Market in Saudi Arabia </strong>that the "precious metal" tends to attract the most people during times of economic uncertainty when online gold trading increases. In fact, during these times of economic turmoil, the price of gold tends to rise as investors flock to the safe haven more.</li>
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<li>The status of gold as a safe-haven asset class dates back to the Bretton Woods Agreement of 1944. Because the US Federal Reserve was required to hold gold that was worth 40% of the value of the US dollar, the bank amassed about 75% of the world's gold. For this reason, the majority of developed countries have agreed to fix their currencies against the US dollar, which is why the dollar is the global currency in the world.</li>
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<li>According to the World Gold Council, the United States still holds the highest official amount of gold in the world at 8,133.5 tons, followed by Germany, Italy, France, Russia, China, Switzerland, Japan, the Netherlands, and India.</li>
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<li><strong>Gold Market in Saudi Arabia </strong>is very strong in the MENA Market, as it acquires 23.5 percent of the gold reserves of the Arab countries at the end of 2020, at about 323.1 tons, while the Arabs own about 1375.5 tons at the end of the same period.</li>
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<p>Please stay with us to know more about <strong>Gold Market in Saudi Arabia.</strong></p>
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<h3 class="wp-block-heading"><strong>Gold market trading</strong>:</h3>
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<li>According to the monitoring unit of reports in Al-Eqtisadiah newspaper, Saudi Arabia's gold reserves constituted, at the end of 2020, about 0.92 percent of global reserves amounting to 35.24 thousand tons of gold, while Arab reserves constituted about 3.9 percent of global reserves.</li>
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<li>According to the data of the World Gold Council, the United States of America topped the world's largest holders of gold, at the end of 2020, while Saudi Arabia ranked 18th among the world's largest owners, which includes the International Monetary Fund and the European Central Bank.</li>
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<li>While Saudi Arabia is the 16th among the countries of the world among the major owners of gold, in the event that the International Monetary Fund and the European Central Bank are excluded.</li>
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<li>And on the Arab ranking, <strong>gold market in Saudi Arabia</strong> ranked first, among the 18 Arab countries that have reserves of gold, while the other eight countries did not announce reserves.</li>
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<li>The gold reserves of central banks are an indicator of the country's credit strength and its ability to fulfill its financial obligations to creditors, and it also gives countries safety during financial crises, the latest of which was "Corona", which witnessed large purchases by central banks as a hedge against the crisis.</li>
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<li>Being a safe store of value, central banks keep a portion of their reserves invulnerable to fluctuations in the currency exchange rate, which can be eroded with market fluctuations or political and economic turmoil.</li>
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<p>Scroll down for more information about <strong>gold market in Saudi Arabia.</strong></p>
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<h3 class="wp-block-heading">How to reach a gold trading platform?</h3>
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<li>Gold trading in the <strong>gold market in Saudi Arabia</strong>, where you create a new account in the e-mail box. The Saudi Ministry of Finance recommended and warned trading with unauthorized or unknown companies to avoid any loss.</li>
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<li>Of all the precious metals, the most popular option is to invest in haven gold, and it is generally bought as a way to diversify risk, particularly through the use of futures and derivative contracts.</li>
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<li>Like other markets, the price of gold is subject to fluctuations. The price of gold is affected by supply and demand, but unlike most raw materials, saving has a greater influence on its price than consumption.</li>
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<li>Taking into account the vast amount of gold stored on Earth's surface, compared to annual production, gold prices depend to a large extent on changes in sentiment (demand), and not on changes in annual production (supply).</li>
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<li>According to data from the World Gold Council, in recent years, the annual gold production of mines has been nearly 2,500 tons. Of this amount, 2,000 tons are used in jewelry or industrial/dental production, while the remainder goes to retail investors and ETFs.</li>
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<p>Please see the upcoming lines to know more about <strong>gold market in Saudi Arabia.</strong></p>
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<h3 class="wp-block-heading"><strong>How to buy gold from Saudi Arabia online</strong>?</h3>
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<p>There are a variety of ways to trade and invest in <strong>gold market in Saudi Arabia</strong>. Here are a few of them:</p>
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<p><strong>1. Classic investment in gold bars or coins</strong></p>
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<p>This includes the actual purchase of gold such as gold bars, gold coins, or even jewelry. Traders will need to find other individuals who are willing to sell their pure gold, get the money in return to buy it for its full value, and store it somewhere safe in the hope that its value will rise.</p>
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<p><strong>2. Gold futures trading</strong></p>
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<p>A forward contract is an agreement between two parties to buy and deliver a commodity such as gold at a specified time in the future. In fact, the first futures contract was written in 1851 for the commodity corn and was offered by the Chicago Mercantile Exchange (CBOT).</p>
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<p>Gold trades at 100 ounces per contract, and for every 1 pip move that equates to $100. This means just buying a gold futures contract (the lowest you can get on the stock exchange is one contract) and ten dollars move in the opposite direction to you.</p>
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<p>Keep reading to know more about <strong>gold market in Saudi Arabia </strong>and Gold trading.</p>
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<p><strong>3. Gold trading via contracts for difference</strong></p>
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<p>As we mentioned before CFDs, or Contracts for Difference, are another way to trade gold. With CFDs, traders have the ability to trade gold futures up and down without actually owning the gold.</p>
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<p><strong>4. Trade gold on binary options</strong></p>
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<p>When you buy a gold options trading contract, it gives the buyer the right, but not the obligation, to buy or sell the underlying asset at a specific price before or on a specific date in the future.</p>
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<p>However, gold options trading contracts expire and their value changes according to the volatility of the asset's price and how close it is to expiry. In essence, the value of gold options trading contracts decreases over time due to "time ebbing".</p>
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<p>When attempting to trade gold options, users must have a minimum of $2,000 in their account, and a minimum of $25,000 if they want to trade gold on a daily basis on binary options, which is quite a lot for many traders.</p>
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<p>Stay focused with our article about <strong>Gold Market in Saudi Arabia.</strong></p>
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<p><strong>5. Gold shares</strong></p>
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<p>The most common form of online gold trading is to do it indirectly by buying gold shares or in other words - shares of gold mining companies.</p>
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<p>Trading <a href="https://en.wikipedia.org/wiki/Gold">gold</a> online in this way means that you don't have to worry about storing the physical commodity on your property or anywhere else. However, keep in mind that each method has its own advantages and disadvantages.</p>
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