Gold prices stabilized in Bahrain at the beginning of local market transactions today, Sunday, May 8, 2022, pending the opening of global markets for trading.
Gold price today in Bahrain
And the price of a gram of 24 karat gold today in Bahrain was 22.85 dinars ($ 60.58), while the price of a gram of 21 karat gold (the most traded in the market) was 19.99 dinars ($ 53.01).
The price of a gram of 18 karat gold today in Bahrain reached 17.14 dinars ($ 45.44).
Regarding economic gold prices today in Bahrain, the price of a gram of 14 karat gold recorded regarding 13.33 dinars ($ 35.34), according to the “gold-price-today” website.
Gold price per ounce and pound in Bahrain
The price of an ounce of gold today in Bahrain amounted to 710.54 dinars (1884 dollars), while the price of the gold pound today in Bahrain (8 grams of 21 karat) reached regarding 159.93 dinars (424.08 dollars).
Gold prices today globally
Global markets are awaiting the opening of gold trading, tomorrow, Monday, with the continued pressures imposed by inflation on the one hand, and the decisions to raise interest rates in many central banks, on the other.
At the end of the global financial market trading session, on Friday, the price of gold in spot transactions rose by 0.33%, or $6.25, to $1883.4 an ounce.
The dollar headed for a fifth week of gains, while US Treasury yields were near their highest levels since November 2018.
Last Wednesday, the US Federal Reserve raised interest rates by half a percentage point in the biggest jump in 22 years, and Fed Chairman Jerome Powell appealed to Americans suffering from high inflation to be patient.
It seems that the prices of the yellow metal are heading for more pressure during the coming period, with expectations of more than two increases on US dollar interest rates, during the next five meetings.