Gold prices rose in Bahrain today, Monday, February 28, 2022, due to a sharp rise in global gold prices due to the existing tensions in eastern Europe.
Gold price today in Bahrain
The price of a gram of 24 karat gold in Bahrain reached 23.05 dinars ($61.12), compared to 22.74 dinars ($60.77).
The price of a gram of 21 karat gold (the most traded in the market) was 20.17 dinars ($53.48), compared to 19.90 dinars ($53.18).
The price of a gram of 18 karat gold in Bahrain today amounted to 17.28 dinars ($ 45.84), compared to 17.06 dinars ($ 45.58).
In terms of economic gold transactions, the price of a gram of 14 karat gold reached about 13.44 dinars ($ 35.65).
Gold price per ounce and pound today in Bahrain
And the price of an ounce of gold today in the morning trading in the local markets in Bahrain scored about 716.73 dinars ($ 1,901), compared to 707.32 dinars (1890 dollars).
While the price of the gold pound today in Bahrain reached about 161.33 dinars (427.87 dollars).
Gold prices today globally
Global gold prices returned to recording successive gains at the beginning of weekly trading on Monday, as fears escalated over the possibility of greater tension between Russia and the West, with the latter tightening its restrictions on the Russian economy.
And on Monday morning, the price of an ounce jumped to the level of 1912 dollars, compared to the closing of last Friday’s trading of 1889.23 dollars an ounce, amid expectations that the prices of the yellow metal will continue to rise during today’s session.
And at the end of last week, Goldman Sachs strategists said that the rally in gold may reach a new record at $2,350, helped by demand for ETFs, on the back of the situation in Ukraine.
Gold’s close on Friday came as the 10-year Treasury yield hit a six-week high above 2%.
The West took a decision to separate some Russian banks from the global SWIFT system (with the exemption of energy transactions), as well as to freeze the possibility of the Russian Central Bank’s entry to its foreign currency reserves in the West, which increases the economic risks resulting from the war.