Gold hits KD 41.350 per gram in Kuwait

Gold prices in Kuwait saw a slight increase, with 24-karat gold reaching approximately KD 41.350 per gram and 22-karat gold priced around KD 37.900 per gram. The price for one kilogram of silver stood at approximately KD 701.

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Gold prices ended last week’s trading at $4,120 per ounce, recording weekly losses of about 0.5 percent amid pressure from a stronger US dollar, higher US Treasury yields, and continued geopolitical tensions in the Middle East.

Globally, gold prices concluded the previous week with modest losses, trading at $4,120 per ounce. This decline was attributed to several factors, including pressure from a strengthening U.S. dollar, higher U.S. Treasury yields, and ongoing geopolitical tensions in the Middle East. Gold experienced volatility, dropping to $4,103 per ounce during Friday's session before partially recovering.

Market sentiment was particularly influenced by U.S. President Donald Trump's statements regarding Iran. He announced the resumption of talks with Iran while simultaneously confirming the end of a ceasefire agreement between the two nations. This dual announcement created market caution amid concerns about potential escalations in regional tensions.

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Gold declined during Friday’s session to $4,103 per ounce before recovering some of its losses by the close of trading following a session marked by sharp volatility.

Further contributing to market unease were rising yields on 10-year U.S. Treasury bonds, fueled by worries that increasing energy prices could exacerbate inflationary pressures. This reinforced expectations of continued restrictive monetary policy. Minutes from the latest U.S. Federal Reserve meeting indicated ongoing concerns about inflation among policymakers, with some suggesting interest rate hikes could remain an option. The strength of the U.S. labor market was also highlighted by a decline in initial unemployment claims.

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This kept markets cautious amid concerns over the possibility of further escalation in regional tensions.

Physical demand for gold showed mixed signals. The Indian market reported notable discounts, suggesting weaker demand, while the Chinese market remained stable, supported by continued purchases from the Chinese central bank. Technically, gold continues to trade within a downward trend, facing resistance at key levels.

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The yield on 10-year US Treasury bonds increased amid growing concerns that rising energy prices could intensify inflationary pressures, reinforcing expectations that monetary policy would remain restrictive in the coming period.