Gold prices stabilized in Kuwait today, Sunday, March 13, 2022, coinciding with the weekly holiday for the world’s precious metals markets.
Gold Price Today in Kuwait
The average price of a gram of 24-carat gold in Kuwait during trading today stood at around 19.46 dinars ($64.05).
The average price of a gram of 21-carat gold in Kuwait (the most traded on the market), today, was around 17.03 dinars (56.05 dollars).
The average price of a gram of 18-carat gold in Kuwait was around 14.59 dinars ($48.04).
Looking at cheap gold prices in Kuwait today, the average price for a gram of 14-carat gold was about 11.35 dinars ($37.37).
Gold price per ounce and pound today in Kuwait
And the average price of an ounce of gold today in Kuwait marked about 605.14 dinars (1992 dollars).
While the average price of a pound of gold (8 grams of 21 carats), about 136.21 dinars (448.39 dollars).
Gold prices today worldwide
Globally, gold prices dipped below $2,000 an ounce at the close of trading on Friday (the closing session of the week), with investors pricing in many geopolitical and economic developments.
Investor appetite for safe assets waned after Russian President Vladimir Putin stated that some progress had been made in talks with Ukraine, although he did not elaborate on the specifics of this improvement in discussions between the two sides.
The data revealed that the “Michigan” index of consumer confidence in the United States fell to its lowest level in 11 years at 59.7 points, compared to 62.8 points last February, due to fears of rising prices in the country.
Markets are awaiting the Federal Reserve meeting scheduled for next week, amid expectations that the US Central Bank will raise interest rates for the first time since the start of the “Corona” pandemic.
The US consumer price index rose 7.9% in February on an annual basis, the fastest pace on record since 1982.
And the price of gold futures contracts for April delivery fell 0.8%, or the equivalent of $15.40, to hit $1,985 an ounce as Friday’s session settled.
In last week’s total trading, the price of precious metal futures contracts increased 0.9%.