Monday 10/November/2025 – 03:37 PM
Gold prices rose in local and global markets during trading today, Monday, to record the highest level in two weeks, supported by growing expectations that the US Federal Reserve will make a new cut in interest rates during its next meeting in December, according to a report issued by the iSagha gold and jewelry trading platform.
Price of a gram of 21 carat gold
Saeed Embabi, Executive Director of the platform, said that gold prices in the local markets rose by about 110 pounds during today’s trading, with the price of a gram of 21 karat gold recording 5,455 pounds, while an ounce rose by about 100 dollars to record 4,101 dollars.
He added that a gram of 24-karat gold reached 6,234 pounds, 18-karat gold reached 4,676 pounds, and 14-karat gold reached 3,634 pounds, while the price of a gold pound stabilized at 43,640 pounds.
Gold prices fell by about 5 pounds during last week’s trading, as a gram of 21 karat gold opened trading at 5,350 pounds, and closed the week at 5,345 pounds. Globally, an ounce declined from $4,003, and closed at $4,001.
Strong bets on a US interest rate cut
Globally, weak economic data in the United States boosted market expectations for a new rate cut next month, while a weaker dollar helped support gold.
According to CME FedWatch, markets are 64.6% likely to cut interest rates by 25 basis points to a range of 3.50%-3.75%, which would be the third straight cut this year.
The report also indicated that the US dollar is facing slight selling pressure as investors’ risk appetite improves, after the Senate approved the temporary funding bill to reopen federal agencies, which increased optimism in the markets.
But the statements of Austin Goolsbee, President of the Federal Reserve in Chicago, added a cautious tone, as he warned of the difficulty of assessing the economic situation in light of the absence of inflation data due to the government closure, which kept the state of anticipation controlling the markets.
