Gold prices rose in Iraq in evening trading, Sunday, April 11, 2021, despite the global decline in the precious metal prices.
Globally, gold prices fell, on Friday (the end of the week’s trading), due to strong economic data from China, which boosted hopes for a quick recovery.
The price of a gram of 24 carat gold in Iraq today, Sunday evening, was about 82 thousand and 69 dinars (56.12 dollars), and the price of a gram of 22 carat gold was about 75 thousand 231 dinars (51.44 dollars).
While the price of a gram of 21 carat gold in Iraq today, Sunday, is about 71,812 dinars ($ 49.10).
As for the price of a gram of 18 carat gold, it was recorded in Iraq today, Sunday, about 61,553 dinars ($ 42.09).
Economic gold prices in Iraq
The price of a gram of 14 carat gold in Iraq today, Sunday, is about 47,874 dinars (32.73 dollars).
As for the 12-carat gold gram, it scored about 41 thousand and 35 dinars (28.06 dollars).
The price of an ounce and a pound of gold
The price of an ounce of gold in Iraq today, Sunday, was about 2 million and 552 thousand and 355 dinars (1745 dollars).
While the price of the gold pound in Iraq today, Sunday, is about 574 thousand and 499 dinars (392.82 dollars).
Gold prices worldwide
Globally, gold fell in spot transactions Friday by 0.4% to 1748.81 dollars an ounce, after reaching its highest level since the first of March at 1758.45 dollars an ounce on Thursday. And US gold futures fell 0.5% to $ 1748.70 an ounce.
“Gold is facing some adverse factors due to optimism about the recovery story as a result of strong data coming from the United States and China,” said Ravindra Rao, vice president of commodities at Cuttack Securities.
But the metal gained about 1.2% this week, after losses it incurred over two weeks.
Brian Lan, managing director at Gold Silver Central Trading, said, “(The decline in) the dollar and treasury yields helped gold this week in addition to the Federal Reserve’s rhetoric that favors monetary easing. Moreover, the general isolation measures in Europe and parts of Asia came with some negative results for vaccines.” .
And strong economic data recently, driven by massive stimulus measures, has chilled the safe-haven demand for gold.
Fed Chairman Jerome Powell hinted yesterday that the central bank is far from reducing its support for the US economy and warned that the anticipated price increase this year is likely to be temporary.