At the beginning of the week’s trading, gold prices witnessed a remarkable decline by about 15 pounds per gram, against the backdrop of the decline in the price of an ounce of gold from 1801 dollars to 1775 dollars globally, with the return of the rise in the price of the dollar globally as well as US bond yields, which reduces the attractiveness of the precious metal and this led to Falling prices.
Gold prices today:
18 caliber record 900 pounds.
21 carat records 1050 pounds.
24 carat records 1205.75 pounds.
The gold pound is 8400 pounds.
As for the gold market globally, gold prices fell with the recovery of the dollar, amid expectations that the Federal Reserve would raise interest rates sharply, which increased pressure on the yellow metal, and gold fell in spot transactions 0.6% to 1791.33 dollars per ounce, after rising by about 1.6% last week, US gold futures fell 0.5% to $1,807.30.
The dollar erased its previous losses, rising 0.2% against its rivals, making gold more expensive for buyers holding other currencies, and investors are awaiting the minutes of the Federal Reserve’s latest monetary policy meeting scheduled for release on Wednesday for more clues to a future interest rate hike.
Although gold is considered a hedge against inflation, rising US interest rates limit the attractiveness of the non-yielding yellow metal.
As for other precious metals, silver fell in spot transactions by 1.2 percent to $ 20.57 an ounce, and platinum fell 1.3 percent to $ 950.37, while palladium settled at 2222.23.