Hani Milad Gayed, head of the General Division of Gold and Jewelery at the General Federation of Chambers of Commerce, said that gold has reached its highest level in the global and local markets in one month.
Milad attributed the rise in global gold prices to a group of variables that the US economy witnessed, as US treasury bond yields fell from their highest levels this week, and the dollar fell ahead of the US jobs report for the month of July, with the escalation of the inflation wave in global markets, in addition to the effects of Western economic sanctions on the Russian economy. Which pushed the markets into a state of confusion, which resulted in a decline in gold prices during the past month.With the continued state of inflation in the US markets despite the strict monetary policy that included raising interest rates to their highest levels , gold returned to rise during the past two weeks , reaching its highest monthly level during today ‘s trading .
And about the price of gold in the market today
Milad said that the global price of an ounce reached 1792 dollars, while the price of karat 21 reached 1075 pounds.
The price of a gram of 24 karat reached 1228.5
karat 18 recorded 921.5 pounds for
And the price of the gold pound without workmanship, stamp or tax, reached 8600 pounds.
