Gold prices fell in Lebanon today, Sunday, January 30, 2022, coinciding with the weekly holiday for the precious metal markets globally.
Gold price in Lebanon today
The price of a gram of 24 karat gold in Lebanon this evening, Sunday, amounted to about 87,028 thousand pounds ($ 57.64).
And the price of a gram of 18 karat gold in Lebanon fell this evening, Sunday, to record about 65,272 thousand pounds ($ 43.23).
As for economic gold prices in Lebanon today, the price of a gram of 14 karat gold recorded about 50,767 thousand pounds ($ 33.62), and the price of a gram of 12 karat gold recorded about 43,514 thousand pounds ($ 28.82).
The price of 21 karat gold in Lebanon
The price of a gram of 21 karat gold in Lebanon fell today, Sunday (the most traded in the market), to record about 76,151 thousand pounds ($ 50.44).
The price of an ounce in Lebanon today, Sunday, scored about 2.706 million pounds (1793 dollars), and the price of the gold pound in Lebanon today (8 grams of 21 karat) recorded about 609,210 thousand pounds ($ 403.49).
Gold prices today globally
At the end of last week’s trading, gold headed for its worst week since the end of last November, as it fell to a 6-week low, on Friday, with the dollar’s rise.
And gold fell in spot transactions at $1,791.70 an ounce, and gold prices rose to their highest level in more than two months earlier in the week, when heightened tensions around Ukraine and increased market volatility led to increased interest in the safe-haven metal.
Prices fell after the US Federal Reserve’s decision to keep interest rates at 0% – 0.25%, last Wednesday, and Jerome Powell, the US Federal Reserve’s president, in which he showed a tough tone and suggested raising interest rates in March.
The hypothesis of raising interest rates means that there is damage to gold and gives the dollar additional strength; Powell also emphasized the strength, stability and positivity of the US economy, which made eyes focus on the US GDP, which had forecast an increase of 5.5%, but it exceeded it and recorded an increase of 6.9%.
However, the exciting thing is what was published by Archyde.com, Friday, which states that gold contracts will end this year with an average performance of $1775.5 an ounce, and will trade in 2023 at an average of $1653 an ounce, a sharp decline that experts expect.