Gold prices in Algeria today, Tuesday, March 2, 2021

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Gold prices fell in Algeria during evening trading today, Tuesday, March 2, 2021, with the global price of the precious metal falling.

Gold prices fell to their lowest level in 8 and a half months, Tuesday, as the rise of the dollar and Treasury yields undermined investors’ appetite for the yellow metal.

The price of a gram of 24 carat gold in Algeria fell this evening to 7 thousand and 349 dinars (55.44 dollars), compared to 7 thousand and 426 dinars (55.84 dollars), on Monday.

While the price of a gram of 21 carat gold in Algeria (the most traded in the market) fell, on Tuesday evening, to 6 thousand and 737 dinars (48.51 dollars), compared to 6 thousand and 807 dinars (51.19 dollars) yesterday.

The price of a gram of 18 carat gold in Algeria, during Tuesday’s trading, fell to 5 thousand and 512 dinars (41.58 dollars), compared to 5 thousand and 569 dinars (41.88 dollars) on Monday.

Economic gold prices

The price of a gram of 14 carat gold in Algeria, during evening trading Tuesday, was about 4 thousand and 287 dinars (32.34 dollars), compared to 4 thousand 332 dinars (32.57 dollars), yesterday.

As for the price of a gram of 12 carat gold, it was recorded on Tuesday evening about 3 thousand and 675 dinars (27.72 dollars), compared to 3 thousand and 713 dinars (27.92 dollars), on Monday.

The price of an ounce and a pound of gold

The price of an ounce in Algeria, during Tuesday’s trading, fell to 228,556 dinars (1724 dollars), compared to 230 thousand and 938 dinars (1737 dollars), on Monday.

While the price of the gold pound in Algeria (8 grams of 21 carat), during Tuesday’s trading, was about 51 thousand and 445 dinars (388.12 dollars), compared to 51 thousand and 981 dinars (390.88 dollars), yesterday.

Gold prices worldwide

Globally, gold prices fell to their lowest level in 8 and a half months, Tuesday, as the rise of the dollar and US Treasury yields undermined investors’ appetite for the yellow metal that does not yield a return.

Gold fell in the spot market 0.3% to $ 1717.99 an ounce by 0633 GMT, after tumbling to its lowest level since June 15 at $ 1706.70 earlier in the session. And gold in US futures fell 0.4% to $ 1716.10.

Michael McCarthy, chief market strategist at CMC Markets, said that the possibility of achieving a higher yield is pressing on gold, while the rise of the dollar is contributing to its decline, adding that the slight decline in the 10-year yield is “too little to be taken into account.”

And US Treasury bond yields have fallen from a one-year high reached last week, but remain high, while the dollar index has stabilized near a 4-week peak.





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