Gold prices rose by about 150 pounds in trading today, Tuesday, to record prices rising again after a wave of decline amounted to 200 pounds, and the markets are witnessing a state of turmoil and changes in the price of the precious metal intraday.
Gold prices today:
18 karat recorded 1552 pounds.
21 karat recorded 1810 pounds.
24 karat, a record of 2068 pounds.
14 karat recorded 1210 pounds.
And the gold pound is 14480 pounds.
At the level of global gold pricing, there was little change in gold prices on Tuesday, December 6, with the dollar stabilizing after recording its largest jump in two weeks in the previous session, while fears of a greater US rate hike by the Federal Reserve continued.
Gold settled in spot transactions at $1769.99 an ounce, and US gold futures contracts remained unchanged at $1781.20 an ounce.
Gold fell after reaching a 5-month high, closing 1.6% lower as the dollar recovered after data fueled speculation that the US Federal Reserve may raise interest rates more than expected recently.
OANDA chief market analyst Edward Moya said financial markets had to increase expectations of a rate hike by the US Federal Reserve after wages rose in November.
“However, gold has seen a slight uptick since early November, and a major pullback does not seem warranted as the economy slows and inflation should decline steadily here,” he added.