Gold prices rose today in Lebanon, Wednesday March 16, 2022, despite the drop in the precious metal on global markets.
Gold Price Today in Lebanon
The average price of a gram of 24-carat gold in Lebanon was about 93,550 thousand pounds ($61.80).
And the average price of a gram of 21-carat gold in Lebanon (the most traded on the market) was 81,858 thousand pounds (54.07 dollars).
While the average price of a gram of 18-carat gold in Lebanon was 70,163 thousand pounds (46.35 dollars).
Looking at cheap gold prices in Lebanon today, the average price for a gram of 14-karat gold was around 54,571 thousand pounds ($36.05).
The price of an ounce and a pound of gold today in Lebanon
The average price of an ounce in Lebanon rose during today’s trading to about 2.909 million pounds ($1,922).
While the average price of a pound of gold in Lebanon today (8 grams of 21 carats) increased to 654,864 thousand pounds (432.59 dollars).
Gold prices today worldwide
Globally, the spot price of gold fell slightly to $1,913.98 an ounce, shedding about 0.21% of its value, and gold futures prices for April delivery fell 0.63% to $1,917. .5 an ounce.
Analysts say gold market moves will be “cautious” ahead of the US Federal Reserve meeting later on Wednesday.
Investors expect the US central bank to raise interest rates by at least 25 basis points amid rising prices.
Those interested in the gold market will also be watching the Fed’s moves closely.
US bond yields were lower in Asian trade, with the benchmark 10-year bond yield at 2.1545%, having previously risen to 2.169%, the highest since June 2019.
The US dollar was also down slightly against a basket of its peers, trading at 98.861, and fell against the yen at 118.22, though still near a 5-year high, while the euro was up 0.16% at 1 $.0969.
Oil prices, trading lower earlier in the session, rose as Russia’s military operation in Ukraine continued to fuel volatility.
Brent, the global benchmark, rose 1.4 percent to $101.39 a barrel, and US crude rose 2 percent to $98.71.