Gold prices in Kuwait have risen sharply, with 24-karat gold reaching around KD 50 per gram (approximately $153). Meanwhile, 22-karat gold is trading at roughly KD 45.8 per gram (around $140).
According to a report by Dar Al-Sabaek Company, silver prices fell in the local market to about KD 860 per kilogram. Investors remain cautious amid global economic developments and geopolitical tensions.
In global markets, gold ended the week near $5,018 per ounce after notable fluctuations. Prices dropped below $5,050 on Friday as the US Dollar Index strengthened and US Treasury yields rose.
Rising US Treasury yields and a stronger dollar reduced gold’s appeal as a safe-haven investment. Concerns over tensions in the Strait of Hormuz and other economic risks also influenced demand.
Rising oil prices, surpassing $100 per barrel, added to inflation fears. Some investors shifted focus from gold to income-generating assets in response.
Gold futures for April delivery declined 1.25 per cent, or $64, closing at $5,061 per ounce. This marked a weekly loss of about 1.88 per cent.
Silver futures also fell 4.44 per cent to around $81 per ounce, posting a weekly decline of 3.46 per cent.
Analysts note that gold remains sensitive to international economic and political developments. In particular, Middle East tensions and currency movements directly impact prices.
Local investors in Kuwait are closely monitoring these trends. Gold remains a popular investment due to its historical stability and hedge against inflation.
With gold reaching new local highs, market watchers advise balancing portfolios amid ongoing volatility. Traders are also tracking US economic indicators and oil prices, which continue to affect gold globally.
In other news read more about Gold Rates Drop in Pakistan Amid Global Market Decline
Overall, gold reaches KD 50 per gram in Kuwait as global fluctuations, rising oil prices, and geopolitical risks keep investors alert.
