- Gold prices rose in the local market during trading today, Monday, with the rise of the ounce on the global stock market, due to geopolitical events in the Middle East region, and indicators of economic slowdown in the American markets.
- Saeed Embabi, CEO of the iSagha platform for trading gold and jewelry online, said that gold prices rose by 15 pounds today, compared to the end of trading last Saturday, the end of the week’s trading, so that the price of a gram of 21 carat reached a level of 3,100 pounds, while gold prices rose on the stock exchange. Globally, it rose by about $20, bringing an ounce to $2,321.
- He added that a 24-carat gram recorded 3,543 poundsAn 18-karat gram recorded 2,657 pounds, while a 14-karat gram recorded about 2,067 pounds, and a gold pound recorded about 24,800 pounds.
- Embaby pointed to the rise in gold prices in global markets with anticipation of the Palestinian agreement with the occupying entity, and the reaching of a truce, nominally with some leaks emerging about the complexity of the discussions between the two sides, which enhances the repercussions of the crisis.
- He pointed to the results of the US jobs report, which once again strengthened expectations about the approaching date of a cut in interest rates by the US Federal Reserve, with fears that the US economy will be exposed to a state of recession.
- The US jobs report showed that 175,000 jobs were added in April, compared to 315,000 in March, which is the lowest pace of increase in employment in 6 months.
