Today, August 10, 2021, the price of gold in Algeria continued to fall during trading on Tuesday evening, despite rising global precious metal prices.
The price of a gram of 24 carat gold in Algeria fell to about 7498 dinars ($ 55.41) compared to about 7,531 dinars ($ 55.64) during trading on Tuesday.
One gram of 21-carat gold, in Algeria, “traded higher in the market” during trading on Tuesday, falling to 6561 dinars ($ 48.48).
The price of a gram of 18 carat gold in Algeria fell to 5624 dinars ($ 41.55) on Tuesday.
The price of economic gold in Algeria is 4374 dinars ($ 32.46) for 14 grams of gold, and about 3749 dinars for 12 grams of gold per gram ($ 27.70).
Price of gold per ounce and pound
The price of an ounce in Algeria fell to about 234.199 thousand dinars (1,731) on Tuesday.
The price of a pound of gold (8 grams 21 carats) in Algeria also fell to 52,715 thousand dinars ($ 389.51) during trading on Tuesday.
Gold prices worldwide today
After high sales in the previous two sessions, gold prices rose globally on Tuesday, pushing up demand for the safe haven yellow metal, halting dollar gains, but fears of an interest rate hike prevented its rise earlier than expected.
And gold on the spot market rose 0.4% to $ 1734.58 an ounce (one ounce) at 0523 GMT.
Gold rose 0.6% to $ 1736 in futures trading in the United States.
The price of gold has fallen more than 4% in the past two sessions after US job data exceeded expectations, reinforcing speculation about an initial cut in the Federal Reserve’s measures to support the economy.
Now, investors’ attention has turned to the US consumer price inflation data released on Wednesday.
Gold is considered a hedge against inflation, but raising interest rates undermines its attractiveness because it increases the likelihood of buying the yellow metal, which does not generate returns.
The stability of the dollar index allowed gold to hold its breath, the index gained strong gains over the past two days, and the strength of the dollar pushed up the price of gold for holders of other currencies.
Among other precious metals, silver rose 0.8% to $ 23.62 an ounce, hitting an 8-month low on Monday.
Platinum is up about 1% at $ 989.65 and Palladium is up about 0.7% at $ 2618.71.
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