Gold prices in Lebanon rose with the dollar’s decline today, Tuesday 8-6-2021, with the dollar’s price rising against the lira.
The price of gold in Lebanon, according to local media, was as follows:
The price of 24-carat gold recorded about 92,979 pounds ($60.87), compared to 90,905 Lebanese pounds ($60.56) on Monday.
And the price of 21 carat gold recorded about 81,359 pounds ($ 53.26), compared to 79,544 Lebanese pounds ($ 52.99) yesterday.
The price of 18 karat gold also recorded about 69,736 pounds ($ 45.65), compared to 68,180 Lebanese pounds ($ 45.42), on Monday.
The price of an ounce of 24-carat gold scored about 2,891,661 pounds (1893 dollars), compared to 2,827,150 Lebanese pounds (1884 dollars) yesterday.
As for the price of the gold pound (weight 8 grams, 21 karat), it recorded about 650,872 pounds (426.11 dollars), compared to 636,351 Lebanese pounds (423.95 dollars), Monday.
The dollar in Lebanon
The exchange rate of the US dollar against the Lebanese pound jumped, at the start of trading on Tuesday, June 8, 2021, in the unofficial (black) parallel market.
The price of the green currency in this market ranged between 13,650 and 13,700 pounds per dollar, compared to 13357 pounds for purchase and 13425 pounds for sale, on Monday.
The Lebanese government agreed to an exceptional loan of $200 million to the state electricity company to import fuel for generation before supplies run out.
global gold prices
Gold fell on Tuesday as the dollar rose, while investors cautiously awaited economic data due this week to assess inflation pressures and the US Federal Reserve’s stance on monetary policy.
And gold fell in spot trading 0.1 percent to $ 1896.94 an ounce (an ounce) by 0505 GMT, while gold settled in futures trading in the United States at $ 1899.10.
The dollar index rose 0.1 percent against its rivals, making gold more expensive for holders of other currencies.
“Inflation has been on the rise in recent weeks, and traders are waiting for confirmation from US data this week that price levels continue to rise,” said Margaret Yang, an analyst at the Daily Fix, referring to Thursday’s US consumer price report.