- Saeed Embabi, CEO of the iSagha platform for trading gold and jewelry online, said that gold prices witnessed a state of stability during today’s trading, with the price of a 21-carat gram recording a level of 3,090 pounds, coinciding with the weekly holiday of the global stock market, after the ounce closed yesterday evening at $2301 level.
- Embabi added that a gram of 24 karat gold recorded 3,532 pounds, a gram of 18 karat gold recorded 2,649 pounds, while a gram of 14 karat gold recorded about 2,060 pounds, and a pound of gold recorded about 24,720 pounds.
- In a related context, gold consolidated at the end of the week’s trading yesterday, Friday, following the release of US jobs data, which once again raised hopes for an early cut in interest rates, to avoid exposing the US economy to a state of recession.
- The markets had reduced expectations of lowering interest rates this year, following the US Federal Reserve’s decision to stabilize them, in addition to Jerome Powell’s statements.
