Today, Tuesday, September 7, 2021, gold prices in Lebanon continued to decline in conjunction with the decline in the prices of the precious metal globally.
The price of a gram of 24-carat gold in Lebanon fell to 87,435 thousand pounds ($782).
The price of a gram of 21 karat gold in Lebanon (the most traded in the market) also fell to 76,508 thousand pounds ($50.59).
The price of a gram of 18 carat gold in Lebanon fell to 65,577 thousand pounds ($43.37).
As for economic gold prices in Lebanon, the price of a gram of 14 karat gold recorded about 51,004 thousand pounds ($ 33.73).
While the price of a gram of 12-carat gold recorded about 43,718 thousand pounds (28.91 dollars).
Gold price per ounce and pound
The price of an ounce in Lebanon fell to 2.719 million Lebanese pounds (1,798 dollars).
The price of the gold pound in Lebanon (8 grams of 21 karat) also fell to 612,061 pounds ($404.75).
global gold prices
Gold prices fell, on Tuesday, as they were pressured by the strength of the dollar and global stocks reaching a record high, thanks to growing hopes that the US Federal Reserve will maintain an easy policy in the short term.
And gold fell in spot transactions, by 0.3% to $ 1817.51 an ounce (an ounce) by 06:54 GMT.
While gold futures in the US declined, by 0.8% to $1819.20.
Harish F. said: Head of commodity research at Geojit Financial Services: “A lot of fundamental factors are still pressure on gold prices.. People are optimistic about the outlook for the global economy.”
“Investors are likely to reduce their safe haven assets such as gold and reinvest in some of the riskier assets,” he added.
Disappointing US jobs data raised expectations that the Fed may delay reducing its asset purchases and kept the yellow metal near a two-and-a-half month high, but it also led investors to stock markets.
Risk appetite sentiment was supported by Chinese trade data which showed exports and imports grew much faster than expected in August.
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