The price of gold rose in Lebanon today, October 30, 2021, despite the fall in global precious metal prices due to the rise of the dollar and bonds.
The dollar price in the unofficial Lebanese (black) market ranged from 21150 to 21250 pounds per dollar.
Gold prices in Lebanon today
The price of a gram of 24 carat gold in Lebanon was recorded at about 87.945,000 pounds ($ 57.41), compared to 87 87,276 ($ 57.70) at the close of trading on Friday.
The price of a gram of 21 carat gold (most traded in the market) in Lebanon rose to 76,953 thousand pounds ($ 50.23) on Saturday and closed at 76,368 pounds ($ 50.75) yesterday.
In Lebanon, the price of a gram of 18-carat gold rose during trading on Saturday, hitting about 65,458 pounds ($ 43.05) compared to, 65,458 ($ 43.50) at the close of trading yesterday.
In Lebanon, the price of 14 carat gold is about 51,301 thousand pounds ($ 33.49) and the price of 12 carat gold is about 43,972 thousand pounds ($ 28.70).
Gold price per ounce and pound
The price of an ounce in Lebanon during trading on Saturday morning was about 7 2.735 million ($ 1785), while the price of a pound of gold (21 carat 8 grams) in Lebanon was about 615,628 thousand pounds ($ 401.85).
Global gold prices
Gold prices fell to a one-week low of more than a week on Saturday on data from US Treasury bonds and the strength of the dollar, as data showed that inflation was sharp last month. Federal Reserve Week (US Federal Reserve).
Gold fell 1.04% to $ 1783.9 an ounce on spot trading. U.S. gold futures for December delivery fell 1.3 percent to $ 1,778.40 an ounce.
The Federal Reserve (US Federal Reserve) is expected to announce a date for the reduction of economic stimulus measures after the second and third meetings in November.
Reducing incentives and raising interest rates will lead to higher yields on government bonds and a stronger dollar, which will reduce demand for gold.
However, common concerns about rising prices put gold and silver on track to record monthly gains of one per cent and seven per cent, respectively.
Price of precious metals
Spot silver was down 0.71% at $ 23.94 an ounce. Platinum was down 0.36% at $ 1020.60 an ounce. Palladium rose 0.24% to $ 1990.35 an ounce.
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