Gold prices rose in Lebanon today, Saturday, January 1, 2022, coinciding with the rise of the precious metal globally in the last sessions of the week.
The global stock exchanges are on a weekend, Saturday and Sunday.
Gold price in Lebanon today
And the price of a gram of 24 carat gold in Lebanon rose during evening trading today, Saturday, to about 89.068 thousand pounds ($ 58.87).
And the price of a gram of 21 karat gold (the most traded in the market) increased in the middle of Saturday’s trading in Lebanon, to about 77.936 thousand pounds ($ 51.51).
The price of a gram of 18-carat gold in Lebanon rose this evening, Saturday, to about 66,802 thousand pounds ($44.15).
In terms of economic gold transactions in Lebanon today, Saturday, the price of a gram of 14 karat gold rose to about 51,956 thousand pounds ($ 34.34).
The price of an ounce and a pound of gold in Lebanon
And the price of an ounce of gold in Lebanon recorded today, Saturday, during evening trading, an increase to about 2.770 million pounds (1831 dollars).
While the price of the gold pound, on Saturday evening, trading in Lebanon, reached about 623.488 thousand pounds (412.09 dollars).
Global gold prices
Globally, gold prices rose when settling transactions yesterday, Friday, the last sessions of the week and the last session in 2021, but it recorded the largest annual losses since 2015 after it fell by 3.6% over the course of the year.
Pressures on gold prices increased with the world’s central banks heading to tighten their monetary policy to face the increasing inflationary pressures, while expectations about the Federal Reserve raising interest rates increased from next March with the continued recovery of the economy.
These developments supported the rise of the US dollar at the expense of gold prices, as the dollar tends to record annual gains of about 7%, and this is its best annual performance since 2015.
The developments of the “Corona” virus continued to dominate market movements, with record infections recorded around the world, as data from “Johns Hopkins University” revealed that new “Corona” injuries in the United States exceeded the barrier of 2.4 million cases during the past week, which represents the largest increase since the beginning of the pandemic.
Upon settlement, the price of gold futures contracts for February delivery rose by 0.8%, equivalent to $14.50, to reach $1,828.60 an ounce, recording a weekly increase of 0.9%, and it also rose by 2.9% during December.
During the last quarter of 2021, gold recorded gains of about 4%, but it declined in total this year by about 3.6%, recording the largest annual decline since 2015.
And the dollar index, which measures the performance of the US currency against a basket of six major currencies, decreased by 0.4% to reach 95,588 points.
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