Gold prices stabilized in official dealings on the Algiers Stock Exchange on the first day of official trading this week.
The price of a gram of 24 carat gold in Algeria was 7,778.27 dinars (60.41) compared to 7,770.94 dinars (60.20), compared to 7,784.57 (60.55 dollars) on Friday.
The price of a gram of 21-carat gold was about 6.805.99 dinars (52.86 dollars).
The price of a gram of 18 carat gold, the most traded in Algeria, was about 5,833.70 dinars ($ 45.31).
As for the price of 14 carat gold, it was about 4,537.33 dinars ($ 35.24).
The price of an ounce and a pound of gold
The price of a 24-carat ounce was stable in the Algerian market, and its price was 241,931.31 dinars ($ 1,878.90).
While the price of the gold pound rose in Algeria (8 grams, 21 carat carat), and reached 54,447.90 dinars (422.86 dollars).
Gold prices rose globally, at the end of last week’s trading, taking advantage of the decline in the dollar, which pushed safe haven flows towards gold again after the increase in cases of Coronavirus.
Gold had risen in immediate transactions 0.1% to 1869.16 dollars an ounce.
US gold futures rose 0.1% to $ 1869.
Gold witnessed sharp declines in the past two sessions, as it lost its position against the dollar as a preferred safe haven in the face of the risks of an escalating pandemic and the US presidential elections that will be held next Tuesday.
The dollar index stopped its rise and stabilized against a basket of currencies, which reduces the cost of the precious metal for holders of other currencies.
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