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  2. Mahd adh Dhahab - Wikipedia

    en.wikipedia.org/wiki/Mahd_adh_Dhahab

    The Saudi Arabian Directorate General of Mineral Resources carried out further gold exploration in the 1970s, following the 1971 suspension of the US$-gold exchange rate and the consequent rise in value of the metal. Gold mining is done today by the Saudi Arabian Mining Company.

  3. Saudi riyal - Wikipedia

    en.wikipedia.org/wiki/Saudi_riyal

    The gold sovereign coin was made legal tender in Saudi Arabia with an initial value of 62 riyals. 1951 – 21 October 1952: Informal fixed exchange rate (⁠3 + 15 / 22 ⁠ SAR = 1 USD) Government begins stabilisation of exchange rate in relation to the U.S. dollar. Saudi Arabia adopted the gold standard.

  4. Gold reserve - Wikipedia

    en.wikipedia.org/wiki/Gold_reserve

    Official U.S. gold reserve since 1900 Changes in Central Bank Gold Reserves by Country 1993–2014 Central 2005 and 2014. A gold reserve is the gold held by a national central bank, intended mainly as a guarantee to redeem promises to pay depositors, note holders (e.g. paper money), or trading peers, during the eras of the gold standard, and also as a store of value, or to support the value of ...

  5. Gold - Wikipedia

    en.wikipedia.org/wiki/Gold

    Today, gold mining output is declining. [162] With the sharp growth of economies in the 20th century, and increasing foreign exchange, the world's gold reserves and their trading market have become a small fraction of all markets and fixed exchange rates of currencies to gold have been replaced by floating prices for gold and gold future ...

  6. Saudi Central Bank - Wikipedia

    en.wikipedia.org/wiki/Saudi_Central_Bank

    The Saudi Central Bank (Arabic: البنك المركزي السعودي), previously known as the Saudi Arabian Monetary Authority (SAMA; Arabic: مؤسسة النقد العربي السعودي), [2] established in 1952, is the central bank of the Kingdom of Saudi Arabia. Despite the name change in 2020, the Saudi Central Bank has continued ...

  7. Gold souk - Wikipedia

    en.wikipedia.org/wiki/Gold_souk

    A Gold souk (Arabic: سوق الذهب) is a gold market in Arab countries of Arabian Peninsula and particularly in GCC countries. [1] The word souk is mostly used by Arabs for open markets. The term evolved through the expatriates settled in Gulf Cooperation Council countries, and spread to other Asian and western parts due to the growing ...

  8. Jeddah - Wikipedia

    en.wikipedia.org/wiki/Jeddah

    Jeddah is located in Saudi Arabia's Red Sea coastal plain (called Tihamah). Jeddah lies in the Hijazi Tihama ( تهامة الحجاز ) region which is in the lower Hijaz mountains . Historically, politically and culturally, Jeddah was a major city of Hejaz Vilayet , the Kingdom of Hejaz and other regional political entities according to ...

  9. Maaden (company) - Wikipedia

    en.wikipedia.org/wiki/Maaden_(company)

    It was formed as a Saudi joint stock company on 23 March 1997 for the purpose of facilitating the development of Saudi Arabia's mineral resources. The Saudi government still owns 50% of its shares while the remaining 50% are listed in Tadawul (Stock Market). It is the largest mining company in Saudi Arabia.

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