Gold prices witnessed a state of price fluctuations over the past week in the local markets, due to the continued influence of various factors on the trading price of an ounce on the global stock exchange.
Mamdouh Abdullah, a member of the Board of Directors of the Gold and Jewelery Division of the Federation of Chambers of Commerce, said that gold prices witnessed a state of relative instability between the rise and fall over the past week as a result of the rise of the dollar and fears of the US Federal trend to reduce support and raise interest rates, in light of high inflation rates. .
He added that the price of 21 caliber moved in a transverse range between 772 and 780 pounds, and settled at the end of the week at the level of 770 pounds, and the ounce moved in the range of 1750 and 1760 dollars, and settled at the 1760 level.
Abdullah explained that 24 karat recorded 880 pounds, and 18 karat recorded 660 pounds, and the price of the gold pound reached 6160 pounds.
He expected the continuation of the wave of price fluctuations for gold in the local and global markets, with the presence of uncertainty in determining the American monetary policy and the presence of various factors that affected the prices of the yellow metal.
The article was written in the Al Borsa newspaper, the price of gold varied.. 21 carat concludes the week’s trading at 770 pounds.