Gold prices in Lebanon rose today, Saturday, August 28, 2021, affected by the global rise in the price of the precious metal.
The price of a gram of 24-carat gold in Lebanon rose to 88.369 thousand pounds ($ 58.45), compared to 87,984 thousand pounds ($ 58.04) on Friday.
And the price of a gram of 21 carat gold in Lebanon (the most traded in the market) rose on Saturday, to record about 77,325 thousand pounds ($51.15), compared to 76,988 thousand pounds ($50.78) at the close of trading yesterday.
The price of a gram of 18 karat gold in Lebanon increased to 66,278,000 pounds ($43.84), compared to 65,989 pounds ($43.53) yesterday.
As for economic gold prices in Lebanon, the price of a gram of 14 karat gold recorded about 51,549 thousand pounds ($ 34.10), and the price of a gram of 12 karat gold recorded about 44,184 thousand pounds (29.23 dollars), and the price of a gram of 10 karat gold recorded about 36.85 thousand pounds ($ 24.38 dollars). ).
Gold price per ounce and pound
The price of an ounce rose in Lebanon, on Saturday, to reach the level of 2.748 million pounds (1818 dollars), compared to 2,736,318 pounds ($ 1,805) at the close of trading on Friday.
And the price of the gold pound in Lebanon rose (8 grams of 21 karat), on Saturday, to reach 618.596 thousand pounds (409.16 dollars), compared to 615,906 pounds (406.28 dollars) at the end of trading yesterday, Friday.
Global gold prices
Gold rose to 3-week highs on Friday, posting its best weekly gain since May, after Federal Reserve Chairman Jerome Powell backtracked on announcing an explicit timetable for withdrawing stimulus and scaling back bond purchases, as expected from his speech at a forum. Jackson Hole.
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.
Gold futures closed up $24.30, reaching $1,819.50 an ounce, after reaching a high of $1,821.55 an ounce, and for the week, gold rose about 2 to record the highest week-high 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.