Gold stabilizes locally, 21 karat gram records 4045 pounds
The global ounce fell by 2.6 % to $77.
Saeed Imbaby, CEO of iSaaga platform for online gold and jewelry trading, said that gold prices witnessed a state of stability in the local market during today's trading, Saturday, as the price of a 21-karat gram recorded 4045 pounds, while the ounce decreased by 2.6%, and by $77, during the trading of the week ending yesterday evening, Friday.
He added that the price of a gram of 24-karat gold was 4,623 pounds, while the price of a gram of 18-karat gold was about 3,467 pounds, the price of a gram of 14-karat gold was about 2,697 pounds, and the price of a pound of gold was about 32,360 pounds.
Mbappe explained that gold prices fell by about 1 % during trading yesterday, Friday, and by 3 % during trading this week, as a result of profit-taking operations, and the US dollar rose, amid concerns about trade policies in the United States and data that raised fears of recession.
