Gold Prices Achieve Small Gains As Markets Await US Jobs Data

Gold prices rose in the local markets during trading today, Thursday, in light of a limited rise in an ounce on the global stock exchange, supported by the decline of the US dollar, as Jerome Powell, the head of the US Federal Reserve, limited the gains of the yellow metal.

Powell also made it clear that the pace of interest rates depends on data that will be released before the Fed's Policy Committee meeting in two weeks.

Markets across the world are awaiting the release of US jobs data tomorrow, Friday, which will have a strong impact on the upcoming US Federal Reserve policy regarding the pace of interest rate hikes.

On the other hand, Saeed Imbaby, executive director of the “iSagha” platform for trading gold and jewellery via the Internet, said that gold prices rose by 10 pounds in the local markets during today’s trading, as a gram of 21-carat gold recorded the level of 1850 pounds, while an ounce recorded the level of 1816 dollars.

Imbaby added that a gram of 24 karat gold recorded 2114 pounds, a gram of 18 karat gold recorded about 1586 pounds, a gram of 14 karat gold recorded about 1233 pounds, while a pound of gold recorded about 14800 pounds.

He pointed out that gold prices rose during yesterday’s trading by about 15 pounds, as a gram of 21-carat gold opened transactions at the level of 1815 pounds, and closed transactions at the level of 1840 pounds, and an ounce opened transactions at the level of 1814 dollars and closed transactions at the level of 1816 dollars.

Translated by Ahmed Moamar