Gold prices stabilized today in Algeria during trading on Sunday evening, July 24, 2022, amid global weekly gains of 1.4%.
Global gold markets witness a weekly holiday on Saturday and Sunday.
Gold price today in Algeria
And the price of a gram of 24-carat gold today in Algeria, during evening trading, was about 8,112 thousand dinars ($ 55.57).
The price of a gram of 21 karat gold did not change today in Algeria (the most traded in the market), to remain at the level of 7,098 thousand dinars ($48.63).
The price of a gram of 18 carat gold today in Algeria was about 6,084,000 dinars ($41.68).
As for economic gold prices today in Algeria, the price of a gram of 14 karat gold scored about 4,732 thousand dinars ($ 32.42).
The price of an ounce and a pound of gold today in Algeria
And the price of an ounce today in Algeria, during evening trading, scored about 252.273 thousand dinars (1,728 dollars).
And the price of the gold pound today in Algeria (8 grams of 21 karat), about 56,783 thousand dinars (389.02 dollars).
Gold prices today globally
Globally, gold prices rose when settling the trading session on Friday (the closing of the week’s sessions) after economic data, to achieve weekly gains after 5 consecutive weeks of decline.
The yellow metal benefited from the decline of the US dollar against the major currencies, in addition to the decline in the yield on the 10-year Treasury bonds at 2.81%.
And S&P Global data revealed that the Purchasing Managers’ Index in the United States recorded a contraction this month for the first time since June 2020, with a sharp decline in the performance of service activity.
Investors are awaiting the Federal Reserve’s meeting in the last week of July, amid expectations that the interest rate will be raised by 75 basis points for the second consecutive meeting.
And the price of gold futures contracts for August delivery rose 0.8%, or the equivalent of $14, to reach $1,727.40 an ounce at the settlement of last Friday’s session.
And futures contracts for the precious metal rose 1.4% during the total trading last week.