Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Gold Steady as Traders Await US Inflation Data

Tue 26 Sep 2023 | 05:50 PM
Walied Farouk - Ahmed Emam

On Tuesday, the price of gold in the global stock market experienced a decline due to the rise of the US dollar and Treasury bond yields.

The direction of the US Federal Reserve's monetary policy in the near future will be determined by inflation data in the market.

According to Saeed Embabi, the CEO of the online gold and jewelry trading platform "iSagha," gold prices remained stable during today's transactions in the local markets. A gram of 21K gold was priced at 2,205 pounds, while an ounce on the global market decreased by around 4 dollars to $1912.

The cost of a gram of 24K was 2,520 pounds, while a gram of 18K was priced at 1,890 pounds. A gram of 14K sold at 1,470 pounds, and a gold pound was priced at 17,640 pounds.

On Monday, gold prices fell by 5 pounds in the local markets.

 The opening price of a gram of 21K was 2,210 pounds, and it closed at 2,205 pounds. 

Meanwhile, the international gold prices also fell by around 9 dollars, opening at $1925 and closing at $1916. Despite this, local gold prices remained stable.