Gold prices in Iraq rose today, Tuesday, January 11, 2022, coinciding with the rise in the prices of the yellow metal in global markets.
Gold price today in Iraq
The price of a gram of 24 carat gold in Iraq today amounted to about 84,734 thousand dinars (58.11 dollars).
And the price of a gram of 21 karat gold (the most traded in the market) this morning in Iraq recorded about 74.144 thousand dinars ($50.85).
And the price of a gram of 18 carat gold, at the beginning of today’s trading in Iraq, was about 63,551 thousand dinars ($43.59).
In terms of economic gold transactions in Iraq today, the price of a gram of 14 karat gold reached about 49,428 thousand dinars ($ 33.90).
The price of an ounce and a pound of gold in Iraq
The price of an ounce of gold today in Iraq scored about 2.635 million dinars (1807 dollars), while the price of the gold pound in Iraq scored about 593.151 thousand dinars ($406.80).
Global gold prices
Gold prices rose on Tuesday, supported by a decline in the dollar and US Treasury bond yields, as investors awaited the release of inflation data for the month of December this week, which may support a decision by the Federal Reserve (the US Central Bank) to raise interest rates sooner than expected.
And the price of gold in spot transactions rose 0.3% to 1806 dollars an ounce (an ounce) by 0232 GMT.
And the price of gold in US futures contracts rose 0.3% to $ 1804.90.
The 10-year US Treasury yield fell to 1.778%, down from a two-year high hit in the previous session of 1808%.
Some investors consider gold as a hedge in the face of high inflation, but it is vulnerable to rising US interest rates, which increase the opportunity cost of holders of the yellow metal that does not generate returns, while the rise of the dollar makes the precious metal expensive for holders of other currencies.
In other precious metals markets, the price of silver in spot transactions rose 0.4% to $22.55 an ounce, and the platinum price rose 1% to $949.28 an ounce, and palladium increased 0.5% to $1,921.74. .