Gold Prices Stabile Amid Market Anticipation of The US Federal Reserve Meeting

Gold prices in the local markets witnessed a state of stability during trading on Monday, while the ounce of gold rose slightly on the global stock exchange, amid markets anticipating the release of the personal consumption expenditures index data in the United States and the meeting of the Monetary Policy Committee at the US Federal Reserve to determine the fate of interest rates during the current week.

Saeed Imbaby, executive director of the “I-Sagha” platform for trading gold and jewelry via the Internet, said that gold prices witnessed a state of stability in the local markets during the trading and compared to the end of last Saturday’s dealings, so that a gram of 21 karat gold traded at 2165 pounds, while an ounce rose by $ 3 to reach 1965 dollars.

Imbaby added that the price of a gram of 24 karat gold traded at 2474 pounds, the price of a gram of 18 karat gold reached 1856 pounds, the price of a gram of 14 karat gold reached 1444 pounds, and the gold pound reached 17320 pounds.

However, gold prices in the local markets had declined by 20 pounds, by 0.9% during the trading week ending last Saturday evening, as a gram of 21-carat gold opened trading last Monday morning at the level of 2180 pounds, and rose to the level of 2200 pounds, and concluded transactions at the level of 2160 pounds, while the ounce rose by $ 8, by 0.4% during the trading week ending last Friday evening, as the week’s trading opened at the level of 1954 dollars, and rose to the level of 1983 dollars, and closed the trading week at the level of 1962 dollars.

Translated by Ahmed Moamar