Gold prices in Iraq rose today, Saturday, August 28, 2021, in parallel with the global market holiday.
A gram of 24 carat gold in Iraq rose to the level of 85,273 thousand dinars ($ 58.45), compared to 84,891 thousand dinars ($ 58.04) on Friday.
The price of a gram of 21 karat gold in Iraq (the most traded in the market) jumped on Saturday, reaching 74,616 thousand dinars ($51.15), compared to 74,282 thousand dinars ($50.78) yesterday.
And the price of a gram of 18 karat gold in Iraq was 63,956 thousand dinars ($ 43.84), compared to 63,669 thousand dinars ($ 43.53) at the end of trading on Friday.
As for economic gold prices in Iraq, the price of a gram of 14 karat gold recorded about 49.743 thousand dinars ($ 34.10), and the price of a gram of 12 karat gold recorded about 42,637 thousand dinars (29.23 dollars), and the price of a gram of 10 karat gold recorded 35,566 thousand dinars ($ 24.38). .
Gold price per ounce and pound
The price of an ounce in Iraq, today, Saturday, scored about 2.651 million dinars (1818 dollars), compared to 2.640 million dinars (1805 dollars) at the close of trading on Friday.
The price of the gold pound in Iraq (8 grams of 21 karat) rose during Saturday’s trading, to record about 596.927 thousand dinars (409.16 dollars), compared to 594,253 thousand dinars ($ 406.28) yesterday.
Global gold prices
Gold rose to 3-week highs on Friday, the end of the week, with its best weekly gain since May, after Federal Reserve Chairman Jerome Powell backtracked on announcing an explicit timetable for withdrawing stimulus and reducing Fed bond purchases, as expected from his speech Within the activities of the Jackson Hole Forum.
The US dollar index declined, as did Treasury yields, while risk assets and commodities including Brent and WTI rose. Gold, although a safe haven, rode the wave, following metal prices.
“Powell has not given a clear idea about the end of monetary easing, leaving the markets with their speculation and putting the risk bulls in their court,” says Philip Strebel, strategist at Blueline Futures.
Gold futures closed up $24.30, reaching $1,819.50 an ounce, after reaching $1,821.55 an ounce. And for the week, gold rose about 2 to record the highest rise in a week since mid-May.
Strebel says gold is facing resistance at the 200-day moving average at $1,820 an ounce. He adds that his next target is between $1,835 and $1,840.