Gold prices rose in Lebanon today, Monday, January 31, 2022, despite the decline in the precious metal globally.
Gold price in Lebanon today
The average price of a gram of 24 karat gold in Lebanon this evening, Monday, reached 87,501 thousand pounds ($ 57.81).
The average price of a gram of 18 karat gold in Lebanon increased this evening, Monday, to 65.627 thousand pounds ($ 43.36).
Regarding economic gold prices in Lebanon today, the price of a gram of 14 karat gold recorded regarding 51,042 thousand pounds ($ 33.72), and the price of a gram of 12 karat gold recorded regarding 43,750 thousand pounds ($ 28.91).
The price of 21 karat gold in Lebanon
And the price of a gram of 21 karat gold in Lebanon rose today, Monday (the most traded in the market), to record regarding 76,565 thousand pounds ($ 50.59).
The price of an ounce in Lebanon today, Monday, scored regarding 2.721 million pounds (1798 dollars), and the price of the gold pound in Lebanon today (8 grams of 21 karat) recorded regarding 612,520 thousand pounds ($ 404.70).
Gold prices today globally
Globally, the price of gold fell today, Monday, and is heading to record the largest monthly decline since September, while the markets expect to raise the US interest rate on the back of economic data, and the rise of the dollar affected the price of gold.
And gold fell in spot transactions 0.2% to $ 1787.70 an ounce. US gold futures fell 0.1% to $1,789.20.
The US Federal Reserve intends to raise interest rates next March, assuming that the economy is not significantly affected by the spread of the mutated Omicron from the Corona virus and that it continues to grow at a healthy pace.
Although gold is a hedge once morest inflation, raising interest rates increases the opportunity cost of holding the precious metal, which does not generate returns.
The dollar index hovered around 18-month highs on Friday as traders awaited central bank meetings in Australia, Britain and the European Union. And the rise of the dollar makes gold more expensive for holders of other currencies.
