Gold prices fell in Iraq today, Saturday, November 13, 2021, despite the rise in the prices of the precious metal’s decline globally.
The gold price today in Iraq
And the price of a gram of 24 karat gold today in the Iraqi markets was 87,609 thousand dinars ($ 60.01).
The price of a gram of 21 karat gold in Iraq (the most traded in the market), during today’s trading, reached about 76,660 thousand dinars ($ 52.51).
And the price of a gram of 18 karat gold in Iraq today, about 65,708 thousand dinars (45.01 dollars).
In terms of economic gold transactions in Iraq today, the price of a gram of 14 karat gold recorded about 51,106 thousand dinars (35 dollars).
The price of an ounce and a pound of gold in Iraq
And the price of an ounce of gold in Iraq, during trading today, Saturday, scored about 2.724 million dinars (1866 dollars).
And the price of the gold pound during trading today, Saturday in Iraq, reached about 613,281 thousand dinars (420.06 dollars).
Gold prices today
Gold prices rose today, Saturday, after the dollar lost a few of its gains at the close of trading on Friday, while high inflation caused chaos in consumer sentiment, but the US currency is on track to achieve the largest weekly increase in nearly three months after a surprisingly strong inflation reading in the United States on Wednesday pushed Investors have to bet on raising interest rates.
And gold recorded in immediate transactions 0.25% to $ 1868.50 an ounce, after it jumped to a five-month peak last Wednesday.
The yellow metal is still on its way to recording the largest weekly gain since the seventh of May, after consumer prices in the United States recorded the highest jump in one year in 30 years last month.
“Inflation is being driven by supply chain issues and until those chains open up there will be continued price pressure and that should support gold,” said Stephen Innes, managing partner at SBI Asset Management.
The sharp rise in inflation has prompted investors to raise bets that the Federal Reserve will raise interest rates sooner than expected.
Raising interest rates will likely reduce the attractiveness of gold, as higher interest increases the opportunity cost of non-yielding yellow metal holders.
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