A new move in gold prices today in the middle of trading

A new move in gold prices today in the middle of trading
A new move in gold prices today in the middle of trading

Gold prices in the local markets are in the middle of trading, today the prices witnessed a decrease of 3 pounds in the middle of trading.

Today’s gold prices were as follows:

The price of 21 karat gold recorded about 1115 pounds.

The price of 24 carat gold recorded about 1274 pounds.

The price of 18 karat gold was about 956 pounds.

The price of 14 karat gold recorded about 743 pounds.

The gold pound recorded about 8921 pounds.

global prices

In the same context, Hani Milad Gayed, Head of the General Division of Jewelery and Jewelery at the General Federation of Chambers of Commerce, confirmed that global markets are facing a state of uncertainty due to the failure of the strict policies of the US Federal to deal with persistent inflation, which puts pressure on global stock exchanges and prices of the precious metal.

The General Division of Gold and Jewelery at the General Federation of Chambers of Commerce explained that the biggest evidence of this is that while the global price fell during the past month in anticipation of the decisions of the US Federal Reserve, the markets witnessed a significant rise for two consecutive weeks, and then prices resumed declining after statements by Federal Reserve Chairman Jerome Powell about continuing Raising interest rates to counter inflation.

He continued: Global markets are in anticipation and waiting for a new rise that gold may witness due to the decline in cryptocurrencies and global stock prices.

Jaid pointed out that the lack of a decline in the local price is due to the continuous movement of global markets due to the rapid change in the global price on the one hand, in addition to the lack of flow of crude import operations and the high volume of domestic demand on the other hand. Speculations or speculations, which those who repeat them seek either to spread in the media or create tension in the markets based on lack of knowledge of the working mechanisms of the local market or knowledge of the movement of buying and selling.

gold reserves

Central banks around the world continue to add gold to their reserves, and since the beginning of 2022 until the end of last June, they expanded their gold holdings by 270 tons.

For his part, Governor of the Polish National Bank, Adam Glapinski, revealed why central banks hold gold, saying: “Gold is the safest reserve asset: it diversifies geopolitical risks and is an anchor of confidence, especially in times of stress and crisis.”

Tags: move gold prices today middle trading

PREV National Day / King Abdullah City for Female Students celebrates the 92nd National Day The Saudi Press Agency
NEXT Feed prices today, Thursday.. lack of supply ignites the market | Goods’ prices