Gold prices declined today in Palestine, during trading on Monday, April 25, 2022, amid a decline in gold prices in global markets.
Gold price today in Palestine
And the price of a gram of 24-carat gold today in Palestine, during the morning trading in the local markets, scored regarding 201.75 shekels (61.63 dollars), compared to 203.20 shekels (62.16 dollars).
And the price of a gram of 21 karat gold (the most traded in the market) in Palestine today, scored regarding 176.54 shekels ($53.93), compared to .81 shekels ($54.39).
The price of a gram of 18 karat gold today in Palestine reached 151.32 shekels ($46.22), compared to 152.40 shekels ($46.62).
As for economic gold prices today in Palestine, the price of a gram of 14-karat gold scored regarding 117.69 shekels ($35.95).
Gold price per ounce and pound today in Palestine
The price of an ounce of gold today in Palestine, during morning trading, scored regarding 6,275,000 shekels ($1,917), compared to 6.320 thousand shekels ($1933).
While the average price of the gold pound today in Palestine (8 grams of 21 karat), is regarding 1,412 thousand shekels (431.42 dollars), compared with 1,422 thousand shekels (435.16 dollars).
Gold prices today globally
Globally, gold prices fell at the close of the first session on Friday and the beginning of trading on Monday, with continued pressures to increase the yield on US Treasury bonds, and expectations of significant increases on US interest rates.
And the prices of spot gold contracts opened today, Monday, with a decrease of 0.48%, or $9, to settle at $1922.7 per ounce.
On the other hand, the US dollar index, which measures the performance of the US currency, rose once morest regarding 6 currencies during early trading today, Monday, to settle at the highest levels of 101.23 points.
And last Thursday, statements came out from US Federal Reserve Governor Jerome Powell, in which he stressed the need to accelerate the rate hike further.
Powell added that markets have priced the rate hike appropriately given that with inflation rising, it makes sense for the Fed to move faster on tightening than last time.
He said, “A 50 basis point interest rate hike is on the table, while emphasizing that the US Federal Reserve is committed to achieving the 2.0% inflation target.”
Gold is very sensitive to raising US interest rates in the short term and increasing the yield on Treasury bonds because this increases the opportunity cost of holders of the precious metal that does not pay interest.
