Gold prices in Lebanon rose today, Saturday, September 25, 2021, affected by the rise in the prices of the precious metal globally.
Gold price in Lebanon today
The price of a gram of 24-carat gold in Lebanon rose to 86,040 thousand pounds ($56.31), compared to 85,664 thousand pounds ($56.48) on Friday.
And the price of a gram of 21 karat gold in Lebanon (the most traded in the market) rose to 75.287 thousand pounds ($49.27), compared to 74.958 thousand pounds ($49.42) on Friday.
And the price of a gram of 18 karat gold increased to 64,531 thousand pounds ($ 42.23), compared to 64,249 thousand pounds ($ 42.36).
As for economic gold prices in Lebanon, the price of a gram of 14 karat gold recorded about 50,190 thousand pounds ($ 32.85), and the price of a gram of 12 karat gold recorded about 43,020 thousand pounds ($ 28.15).
Gold price per ounce and pound
The price of an ounce in Lebanon reached 2.675 million pounds (1751 dollars), compared to 2.664 million pounds (1757 dollars) on Friday.
And the price of the gold pound in Lebanon (8 grams of 21 karat), Saturday, at 602.292 thousand pounds (394.17 dollars), compared to 599.665 thousand pounds (395.36 dollars) yesterday.
Global gold prices
Gold prices rose marginally at the close of trading on Friday, while monitoring the prospects for monetary policy of the Federal Reserve, which tend to tighten monetary, increase interest rates and reduce US stimulus packages to support the economy in the face of the Corona pandemic.
The precious metal was affected by this week’s Federal Reserve meeting, which showed expectations that asset purchases could start to start in November, with half of the Fed’s members expecting a rate hike next year instead of the average estimate released in June that had not expected any rate move before 2023.
The price of gold futures contracts for December delivery rose 0.1%, or $1.90, to $1,751.70 an ounce at settlement, achieving a slight increase, equivalent to 30 cents, during the total trading this week.