Wednesday 07/January/2026 – 04:17 PM
Saw prices gold The local markets and the global stock market declined during Wednesday’s trading, affected by profit-taking operations, but the continued demand for safe havens limited the severity of the decline, in light of the continuing geopolitical tensions globally, according to a report issued by the “iSagha” platform.
A new decline in gold prices in the local market… and a gram decreases by 55 pounds
Saeed Embabi, Executive Director of the “iSagha” platform, said that gold prices in the local market fell by about 55 pounds per gram, with a gram of 21 karat gold recording about 5,950 pounds, while the price of an ounce globally fell by about 49 dollars, reaching the level of 4,445 dollars.
Embaby explained that the price of a gram of 24 karat gold was about 6,800 pounds, while the price of a gram of 18 karat gold was about 5,100 pounds, while the price of a gold pound rose to about 47,600 pounds.
Gold and silver prices
Gold and silver prices declined at the beginning of Wednesday’s trading in the United States, as a result of profit-taking operations carried out by futures traders in the short term.
Despite this decline, the decline is still limited so far, amid expectations of increased buying demand at low levels, in light of the continuing geopolitical tensions that enhance demand for gold as a safe haven.
At the same time, expectations that the Federal Reserve will ease monetary policy continue to provide additional support to gold prices. In this context, the Automated Data Processing Research Institute (ADP) reported that employment in the American private sector rose by 41,000 jobs during December, with an annual wage increase of 4.4%.
This increase came after employment declined by 29,000 jobs in November, after adjusting the previous reading from a decline of 32,000 jobs. The figure was also slightly lower than market expectations of 47,000 jobs.
Commenting on the report’s results, Dr. Nella Richardson, chief economist at ADP, said that small enterprises were able to recover from the job losses they recorded in November, with the pace of employment improving by the end of the year, despite the continued decline in employment among large companies.
