Wed/May/2025 – 04:07 PM
Gold prices in the local markets witnessed a remarkable increase today, Wednesday, affected by the global rise in ounce prices, as a result of the increasing financial pressures and political and commercial uncertainty, according to a recent report by the AIS platform specialized in the circulation of gold and jewelry via the Internet.
Gold prices today
Saeed Imbabi, Executive Director of the Ayea platform, explained that gold prices in the local market increased during today’s trading by 30 pounds compared to the closure of yesterday’s transactions, as the gram of 21 carat gold recorded 4660 pounds, while the ounce increased globally by about $ 17 to reach 3311 dollars.
Imbabi pointed to the prices of the rest of the bullets, as the price of a gram of 24 carat gold reached about 5326 pounds, and 18 carat about 3994 pounds, while the price of a gram of 14 carat gold reached 3107 pounds, and the price of the gold pound recorded 37280 pounds.
He added that yesterday, Tuesday, the local market witnessed an increase in gold prices of 80 pounds, as the gram of 21 carat gold opened trading at 4550 pounds and closed at 4630 pounds. As for the global level, the ounces increased by $ 56, from $ 3234 to $ 3294.
Imbaby attributed this rise in gold prices to an increase in demand for safe havens, driven by the escalation of geopolitical tensions, especially after Israel’s statements about its intention to target Iranian nuclear facilities.
A CNN report stated that Israel is currently studying an attack on Iranian nuclear installations, although there is no final decision regarding the implementation of this attack, at a time when investors are awaiting official confirmation from officials in the United States or Israel.
Imbabi also pointed out that the increasing expectations of reducing interest rates by the US Federal Reserve represents an additional factor that is pushing gold prices towards climb. This trend contributed to increasing pressure on the dollar, which increased the attractiveness of non -revenue assets such as gold.
These expectations reinforce recent economic data issued by the US Department of Commerce, which showed the stability of retail sales in April, along with
