Gold prices stabilized in Lebanon, this morning, Sunday, October 9, amid anticipation of what gold will witness globally at the beginning of the week’s trading tomorrow, Monday.
The local gold markets often witness stability during trading on Saturday and Sunday, coinciding with the global gold market holiday.
Globally, the precious metal prices fell at the end of trading last Friday, following the US jobs data reinforced expectations that the Federal Reserve (the US central bank) will continue its policy of raising interest rates.
Expectations are that the Fed will raise interest rates by another 75 basis points at its next meeting in early November.
gold in lebanon
The price of 24 carat gold in Lebanon stabilized this morning at the level of 82,939 thousand pounds ($54.53), the same price that it recorded at the end of trading yesterday, according to the gold-price-today.com platform, which specializes in monitoring gold prices.
And the price of 21 karat gold (the most prevalent in Lebanon) today recorded regarding 72,574,000 pounds ($47.72), meaning that it did not witness any change from the end of trading yesterday.
The price of 18 karat gold remained at the level of 62.206 thousand pounds ($ 40.90) and did not change from the end of trading yesterday.
How much is the price of an ounce and a pound of gold?
The price of an ounce of gold today in Lebanon recorded 2.579 million pounds (1696 dollars), while the price of the gold pound recorded 580,590 thousand pounds (381.75 dollars).
world gold price
And by the end of trading week, US gold futures fell 0.7 percent when trading last Friday, to reach $ 1709.30 an ounce.
And gold prices fell in spot transactions, at the close of Friday – the end of the week – 0.6% to $ 1700.03 an ounce.
