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Gold prices in local markets fell slightly during today’s Saturday trading in light of the global market holiday.
While gold prices in global markets fell 1.2% during the trading week ending Friday night after posting their highest level in three months as statements by many US federal officials this week were the main reason for the dollar’s drop, and gold prices are expected to see more of the decline due to profit-taking ahead of the release of the minutes of this week’s Federal Reserve meeting, as well as statements by Federal Reserve chairman James Bullard US Bank in St. Louis that the interest rate hike could reach 7% to curb inflation.
Saeed Imbaby, executive director of the ‘i Sagha’ internet gold and jewelery trading platform, said gold prices fell by a pound in local markets during today’s trading, so much so that one gram of gold at 21 carat recorded the level of 1287 pounds, while the ounce stabilized at 1750 dollars.
He added that one gram of 24-karat gold registered 1471 pounds, one gram of 18-karat gold registered 1103 pounds, one gram of 14-karat gold registered 858 pounds, and one pound of gold registered 10296 pounds.
And gold prices were up about £14 in trading yesterday, Friday, as an ounce of 21-karat gold opened trading at the £1274 level, touched the £1290 level and concluded transactions at the of 1288 pounds, while the ounce decreased by $ 12, as it opened transactions at the level of 1762. dollars and closed at the level of $ 1750.
