Gold prices rose today in Lebanon during trading on Monday, September 26, 2022, in reverse, with gold falling globally
Gold price today in Lebanon
The price of a gram of 24-carat gold today in Lebanon rose to 81.161 thousand pounds ($ 52.69), according to the “gold-price-today” platform for monitoring gold prices.
The price of 21 karat gold today in Lebanon jumped today at 71,018 thousand pounds ($ 46.11).
And the price of 18 karat gold today in Lebanon recorded a slight increase, reaching 60,872 thousand pounds ($ 39.51).
The price of an ounce and a pound of gold in Lebanon
The price of an ounce of gold today in Lebanon jumped to the level of 2.524 million pounds ($1,639,000).
The price of the gold pound today in Lebanon (8 grams of 21 karat) reached 568,142 thousand pounds ($ 368.78).
While the price of a kilo of gold reached 81.161 million pounds (52,695 thousand dollars).
Global gold prices .. What is happening?
Gold prices stabilized near their lowest level in two and a half years, on Monday morning, affected by the rise in the dollar and the adoption of a strict stance by major central banks on interest rates to reduce inflation.
And the price of gold in spot transactions fell 0.3% to $ 1637.85 an ounce, as of 0415 GMT.
Prices also fell 1% earlier in the session to its lowest level since April 2020, recording $1,626.41.
US gold futures fell 0.6% to $1,645.
The dollar index, which measures the performance of the US currency against six major currencies, rose to its highest level since 2002, supported by the decline of the pound sterling.
The Federal Reserve (the US central bank) and a number of other major central banks raised interest rates last week, raising concerns about their impact on growth.
Friday’s poll showed the slowdown in euro zone business activity worsened in September.
Meanwhile, Atlanta Federal Reserve Chairman Rafael Bostic said on Sunday that he still believes the US central bank can bring down inflation without major job losses given the economy’s continued momentum.
Raising interest rates in the United States reduces the attractiveness of non-yielding gold while strengthening the dollar in which gold is priced.
Gold prices have fallen more than 20% since breaking the key $2,000 an ounce limit in March.
As for other precious metals, the price of silver in spot transactions fell 1.6 percent to $ 18.54 an ounce, the price of platinum rose 0.5 percent to $ 858.40, and the price of palladium rose 0.9 percent to $ 2084.79.