The average price of gold in Lebanon declined today, Tuesday, February 15, 2022, despite the rise in the prices of the precious metal globally.
Gold price today in Lebanon
The average price of a gram of 24-carat gold in Lebanon today decreased to regarding 89.982 thousand pounds ($59.51).
The average price of a gram of 21 karat gold in Lebanon (the most traded in the market) also fell to regarding 78.737 thousand pounds ($52.08).
The average price of a gram of 18 karat gold in Lebanon fell to regarding 67,488 thousand pounds ($44.64).
As for economic gold prices in Lebanon today, the average price of a gram of 14 karat gold was regarding 52,490 thousand pounds ($ 34.72).
The price of an ounce and a pound of gold today in Lebanon
The average price of an ounce in Lebanon has fallen today, to regarding 2.798 million Lebanese pounds, (1851 dollars).
The average price of the gold pound also decreased, to regarding 629,893 thousand pounds (416.61 dollars).
Gold prices today globally
Gold prices jumped to an 8-month high on Tuesday, as investors turned away from risky assets and turned to the precious metal, which is considered a safe haven, as tensions increased between Russia and the West over Ukraine.
And gold rose in spot transactions, by 0.4%, to $ 1877.96 an ounce at 06:39 GMT, following hitting its highest level since June 11, and it reached $ 1879.48.
Gold jumped 0.6% in US futures to $1,880.20 an ounce.
Stephen Innes, director at SBI Asset Management, said the Ukraine crisis was supporting gold at a time of inflation due to high oil prices, and risk aversion as stocks fell.
“If we lose the momentum caused by (the conflict) in Ukraine, gold will quickly fall back,” he added.
The precious metal got more support as US 10-year Treasury yields fell, lowering the opportunity cost of holding non-yielding gold.
The dollar fell slightly, which supported the attractiveness of gold to buyers holding other currencies.
Other metal prices
And the price of silver fell in spot transactions, by 0.2%, to $23.79 an ounce.
While platinum decreased, by 0.1% to $ 1026.86.
Palladium also fell, by 0.4%, to $2,349.82.
