Global gold prices decline, stabilize in Yemen amidst disparity between Sanaa, Aden

SANAA, Nov. 24 (YPA) – Global gold prices saw a decline on Monday influenced by the US dollar’s rise to near a six-month high and the reduced likelihood of the US Federal Reserve cutting interest rates in December.

Gold prices in Yemen, however, stabilized at their last level, showing a fall in Sanaa markets and a rise in Aden markets.

 Global Markets

Spot gold fell by 0.3% to $4,051.48 per ounce. This decline is supported by US data showing faster growth in non-farm payrolls in September (119,000 jobs), decreasing the likelihood of an interest rate cut.

Yemeni Markets

Gold markets in Yemen stabilized at the latest level of disparity:

Aden Government Areas (Saudi-led coalition-aligned government areas):

The price of the Gold Pound stabilized at 1,539,000 Yemeni Riyals (YER).

The price of 21-Karat Gram stabilized at 192,400 YER.

These figures mark the highest increase in Aden’s gold markets since the beginning of the current month.

Sanaa Government Areas:

The price of the Gold Pound was 485,000 YER, a slight decrease of 1,000 YER.

The price of 21-Karat Gram was 62,400 YER, a slight increase of 900 YER.

Gold prices in Sanaa have fallen by approximately 18,000 YER for the pound and 2,000 YER for the gram since mid-month, after previously reaching 503,000 YER for the pound.

YPA