Monday 03/Mar/2025 – 08:26 PM
Gold prices in local markets witnessed a remarkable increase during Monday’s trading, in conjunction with the high ounce prices on the global stock exchange, supported by a decrease in the value of the dollar and the increase in demand for safe havens, in light of the escalation of concerns related to the customs duties policies of former US President Donald Trump.
Gold prices in local and global markets
The price of a gram of 21 carat gold was about 4090 pounds, while the ounces increased globally by $ 19, to record 2890 dollars.
A gram of 24 -carat gold: 4657 pounds.
A 18 -carat gold gram: 3493 pounds.
14 -carat gold gram: 2717 pounds.
Gold pound: 32720 pounds.
Gold performance during the past week and month
Gold prices in the local market decreased by 2.2% during last week’s trading, declining 90 pounds, as the gram of 21 carat gold opened trading at 4140 pounds, before concluding the week at 4050 pounds.
At the global level, the ounce fell by 2.6%, equivalent to 77 dollars, as trading opened at $ 2935, and closed at 2858 dollars.
During the month of February, gold prices increased by 3.8% in the local market, recording an increase of 150 pounds, as the gram of 21 carat gold began its transactions at 3900 pounds, and its highest level was at 4165 pounds on February 24, before the month was closed at 4050 pounds, while the ounce, it increased globally by 2.1%, or about 60 dollars, to reach 2858 dollars after it recorded its highest level at 2956 dollars During the same month.
Factors affecting the high price of gold
Saeed Imbabi, Executive Director of the “i -Salag” platform specializing in gold and jewelry circulation online, confirmed that gold prices are witnessing a new rise after a wave of declinesLtd. a week The past, due to the decline in the dollar, in addition to the continued high demand for safe havens, as a result of geopolitical uncertainty and global economic slowdown.
Among the most prominent factors that affected the movement of gold:
The threat of former US President Donald Trump to China to impose additional customs duties by 10%, which is scheduled to enter into force next Tuesday, raising the percentage of cumulative customs tariffs to 20%.
Gold fell by more than 1% in the previous session, after US inflation data indicating a cautious position by the Federal Reserve on Reducing interest rates.
UBS analysts expected gold prices to reach $ 3,000 an ounce this year, with the possibility of a rise to $ 3,200.
