Gold prices rose today in Lebanon, Saturday, April 2, 2022, despite the global precious metal recording weekly losses of 1.8%.
Gold price today in Lebanon
And the price of a gram of 24-carat gold today in Lebanon rose, during mid-trading, to about 93,838,000 pounds ($61.95).
And the price of a gram of 21 karat gold (the most traded in the market) today in Lebanon increased to about 82,110 thousand pounds ($54.21).
The price of a gram of 18 karat gold today in Lebanon, in evening trading, rose to about 70,380 thousand pounds ($ 46.46).
As for economic gold prices today in Lebanon, the price of a gram of 14 karat gold recorded about 54,739,000 pounds ($36.14).
The price of an ounce and a pound of gold today in Lebanon
And the price of an ounce of gold today in Lebanon, this evening, rose to about 2.918 million pounds (1927 dollars).
And the average price of the gold pound today in Lebanon (8 grams of 21 karat), in the middle of today’s trading, was about 656.882 thousand pounds (433.65 dollars).
Gold prices today globally
Globally, gold prices fell when settling Friday’s trading session (the last session of the week), following the release of the monthly jobs report in the United States and the rise in US Treasury bond yields.
Data from the US Bureau of Labor Statistics showed that the economy added 431,000 jobs during March, a level lower than expectations of 492 thousand, while the unemployment rate fell by 0.2% to 3.6% during the last month.
The jobs report prompted investors to stay away from US Treasuries, with expectations that US interest rates will rise sharply this year, leading to higher Treasury yields.
The yield on the 10-year bonds recorded 2.36%, while the yield on the two-year bonds rose to 2.44%, bringing the yield curve back to inverting again.
In prepared remarks for an event, Chicago Fed President Charles Evans predicted that the central bank would raise interest rates six times this year, 25 basis points at a time.
The price of gold futures contracts for June delivery fell by 1.6 percent, or $30.30, to reach $1,923.70 an ounce when settling Friday’s trading, to record weekly losses of about 1.8 percent.