Following a general increase yesterday, Saturday, gold prices in Iraq stabilised throughout nighttime trades today, Sunday, October 16, 2022.
This occurs amid tranquillity in the Iraqi gold market and a weekly holiday in the international gold markets.
For the second week in a row, the price of gold fell globally; for the week ending on Friday, the decrease exceeded $ 60.
Currently, the 24 carat gold price in Iraq has steadied at around 77.
The price at the close of yesterday’s trading was 286 thousand dinars (52. 94 USD).
The best-selling weight of gold in the Arab gold markets is 21-saa gold, which sells for roughly 67. 627 thousand dinars per gramme (46. 32 dollars).
While the 14-caliber gold calibre in Iraq registered today’s evening transactions at 45. 084 dinars, the 18-carat gold reported stability at 57. 966 thousand dinars (39. 70 dollars) (30. 88 dollars).
In evening transactions today, the price of an ounce of gold in Iraq was 2. 403 million Iraqi dinars (1646 dollars), while the price of a pound of gold was 541. 016 thousand dinars (370. 56 dollars).
Amid growing predictions that the federal reserve will approve a big increase in the American interest rate, gold prices continued to decline globally for a second week.
Due to the bullish trend in the dollar’s performance and the returns on US Treasury bonds, gold came under intense pressure and had substantial weekly losses of more than $60.
At the close of Friday’s trading, the price of gold metal futures for December delivery fell by 1.7% or $28. 1, amounting to $ 1648.9 per ounce.
Gold dropped around 3.5% of its value this week, or $60, and that is a loss.
The dollar index, which tracks how the US dollar performs against a selection of major currencies, rose 0. 8% to 113. 292 points.
Sunday’s evening gold price transactions in the Iraqi market were quiet.
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