Gold prices in Algeria fell today, Tuesday, October 26, 2021, affected by the decline in prices in the precious metal markets globally.
Gold price in Algeria today
A gram of 24 karat gold in Algeria amounted to 7876 dinars ($ 57.58), and a gram of 21 karat gold (the most traded in the market) amounted to 6892 dinars ($ 50.39).
The price of a gram of 18 carat gold in Algeria fell, recording 5907 dinars ($43.19).
In terms of economic gold transactions in Algeria, the price of a gram of 14-carat gold scored about 4,595 dinars ($33.59).
A gram of 12 carat gold scored about 3,938 dinars ($28.79).
Gold price per ounce and pound
The price of an ounce of gold in Algeria this evening reached 244.955 thousand dinars (1791 dollars).
The price of the gold pound today in Algeria was 55.136 thousand dinars ($403.08).
global gold prices
Gold prices fell on Tuesday, affected by the rise of the dollar and bond yields, while investors awaited the reaction of central banks to the escalation of inflation pressures, ahead of important upcoming meetings within days.
And the price of gold in spot transactions fell 0.1% to $ 1805.06 an ounce (an ounce) by 0607 GMT. US gold futures were unchanged at $1,806.
The precious metal jumped nearly 1% on Monday, recording 1809.66 an ounce, about four dollars more than its highest level in nearly a month, which was reached last week.
The dollar rose 0.1% today, after it fell to its lowest level in nearly a month in the previous session, which reduced the demand for gold for holders of other currencies.
“Gold will remain relatively well supported in the current inflation environment until the Federal Reserve takes aggressive action to contain the situation,” said Stephen Innes, managing partner at SBI Asset Management.
He continued, “But if inflation spreads and gets out of control, the Reserve Board may raise prices quickly, and this would reduce demand in the gold market.”
Investors are now looking forward to Thursday’s European and Japanese central bank meetings, followed by the US Federal Reserve meeting next week and the Bank of England policy committee meeting. The US GDP data for the third quarter of the year is also expected.