Gold prices in Bahrain increased during morning trading today, Thursday, October 7, 2021, compared to yesterday’s prices.
Gold price today in Bahrain
The price of a gram of 24 karat gold today in Bahrain rose to about 21.36 dinars ($ 56.65).
The price of a gram of 22 carat gold rose in early trading in Bahrain on Thursday, to about 19.58 dinars ($ 51.95).
The price of a gram of 21 karat gold (the most traded in the market) increased at the beginning of Thursday’s trading in Bahrain, to about 18.71 dinars ($49.62).
The price of a gram of 18 karat gold in Bahrain rose to about 16.04 dinars ($ 42.53).
As for economic gold, the price of a gram of 14 karat gold in Bahrain rose on Thursday, to about 12.51 dinars ($ 33.18).
Gold price per ounce and pound in Bahrain
The price of an ounce of gold in Bahrain today, Thursday, reached about 664.95 dinars (1763.67) dollars.
And the price of the gold pound in Bahrain, on Thursday, scored about 149.42 dinars (396.33 dollars).
Gold prices today globally
And gold settled in the morning trading, today, Thursday; Investors are awaiting US jobs data, the improvement of which will allow the Federal Reserve to start tapering off stimulus, a move one analyst predicted could drop metal prices to $1,725.
There was little change in gold in spot transactions, which recorded $ 1763 an ounce, while US gold futures rose 0.1% to $ 1764.10 an ounce.
The US dollar settled near its highest levels in a year, supported by inflation concerns and expectations that the Federal Reserve will take urgent action towards normalizing politics, which also prevented gold from rising.
The rise of the dollar makes gold less attractive to holders of other currencies, according to what was published by “Reuters”.
“Central banks are in a precarious position, watching inflation as it continues to rise,” said Stephen Innes, managing partner at SBI Asset Management. Central banks switch to raising interest rates.
On Friday, US non-farm payrolls data is expected to show an improvement in the labor market, which is likely to prompt the central bank to start reducing support for the pandemic-related economy before the end of the year.
As for other precious metals, silver rose in spot trades 0.6% to $22.73 an ounce, platinum settled at $984.69, and palladium increased 0.9% to $1,906.18.