Gold prices rose today in Bahrain on Saturday, March 26, 2022, despite the fall of the precious metal in world markets at the end of the week’s trading.
Gold prices in Bahrain today
The price of a gram of 24 carat gold rose to about 23.82 dinars ($ 63) during trading in Bahrain this evening.
And in the middle of today’s trade in Bahrain the price of a gram of 21 carat gold (the most traded in the market) rose to about 20.85 dinars ($ 55.13).
The price of a gram of 18 carat gold in Bahrain today rose to about 17.87 dinars ($ 47.25).
In Bahrain today, the price of 14 grams of 14 carat gold is about 13.90 dinars ($ 36.75).
Gold price for ounce and pound in Bahrain today
The average price of an ounce in Bahrain rose to about 740.95 dinars ($ 1959) this evening.
The average price of a pound of gold in Bahrain (8 grams 21 carats) in the middle of today’s trade was about 166.78 dinars ($ 441.03).
Gold prices internationally today
Globally, gold prices fell as the silver trade session (last session of the week) settled, but it recorded weekly gains in light of the intensification of concerns over the Russian-Ukrainian war and inflationary pressures.
Following the announcement by US President Joe Biden and European Commission President Ursula von der Leyen to form a joint committee to reduce Russia’s dependence on energy supplies, the United States and its allies held more meetings yesterday to discuss the progress of the Ukrainian war.
Separately, US Treasury Secretary Janet Yellen told CNBC that she expects the US economy to continue to perform well despite rising energy and commodity prices.
The University of Michigan report shows that the U.S. Consumer Confidence Index recorded 59.4 points during the March final assessment, the lowest level in 10 years, up from 62.8 points in the previous February. Consumers expected inflation to rise. 5.4% next year.
The acceleration of inflation in the United States has prompted members of the Federal Reserve to support raising interest rates by 50 basis points. May be relevant depending on economic data.
Gold futures contracted 0.4%, or $ 8, to April delivery, reaching $ 1,954.20 an ounce in early trade on Friday, but traded up about 1.3 percent weekly.
Gold for June delivery also fell 0.4%, or $ 7.90, to $ 1959.80 an ounce on settlement, while its weekly gain exceeded 1.3%.
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