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Posted On: 23 September 2019 12:22 pm

Gold prices surge in Qatar and international markets amid Gulf tensions

Khadiza Begum
Khadiza Begum
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Gold prices observe a sizeable boost in Qatar and the international market. Price of one gram of 22 carat gold has jumped by around QR 25 so far this year. A gram of 22-carat gold was trading at around QR 150 at the beginning of this year, but it is now trading at QR 175.

A similar trend was visible in 24-carat gold which has gone up from QR 160 per gram at the start of the year to now at QR 185.

International markets are also experiencing increments in gold prices with the current value at dollar 1517 per ounce with an 18$ surge. Prices of gold in Qatar move in tandem with global prices since the prices here are linked to the international market, mainly the London bullion market.

According to a report by Reuters, the pickup in geopolitical risk from Saudi Arabia and President Trump rejecting the possibility of a partial trade deal with China certainly adds that little more shine to gold.

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