Gold prices in Bahrain fell today, Friday, March 11, 2022, in parallel with the decline in the prices of the precious metal in global markets.
Gold price today in Bahrain
The price of a gram of 24 karat gold in Bahrain during evening trading today, Friday, was 24.02 dinars ($ 63.71).
The price of a gram of 21 karat gold (the most traded in the market) was 21.02 dinars ($55.75).
And the price of a gram of 18 karat gold in Bahrain today fell to 18.02 dinars ($ 47.78).
In terms of economic gold transactions, the price of a gram of 14 karat gold reached about 14.01 dinars ($ 37.16).
Gold price per ounce and pound today in Bahrain
And the price of an ounce of gold today in the evening trading in the local markets in Bahrain was about 747.06 dinars (1981 dollars).
While the price of the gold pound today in Bahrain reached about 168.15 dinars (445.99 dollars).
Global gold prices
Gold fell on Friday, as US Treasury yields increased on the back of data that indicated a significant rise in inflation, but prices are heading for their second consecutive weekly gain after the lack of any progress in talks between Russia and Ukraine.
And gold fell in spot transactions 0.6% to $ 1984.91 an ounce (an ounce) by 0615 GMT. US gold futures fell 0.6% to $1989.20.
“Trading is very much going to be war-driven again,” said Stephen Innes, managing partner at SBI Asset Management. “But what will weigh on sentiment if there is no escalation on the war front is the Federal Open Market Committee, which will be much hawkish.” A bit more than what the market thinks now.
Gold is highly sensitive to higher US interest rates, as it increases the opportunity cost of owning the non-yielding metal.
As for other precious metals, palladium rose 0.2% to $2,933.67 an ounce. The metal hit an unprecedented high of $3,440.76 on Monday, backed by fears of supply disruptions from Russia, its largest producer.
Silver fell in spot transactions 0.9% to $ 25.64 an ounce, while platinum fell 0.7% to $ 1061.23, and is heading to incur the largest weekly loss since November.