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Gold prices in the local market have fallen by 30 piastres per gram, according to the price announced Saturday by the General Union of Gold Owners and Drawing Stores. The price of one gram of 21 carat gold, the most sought after in the Jordanian market, dropped to 31 dinars per gram.
The price of 24 carat gold grams to 36 dinars and 18 carat gold to 27.8 dinars.
Overall, gold prices fell on Friday with rising stock markets and the US Treasury, but registered a fourth consecutive monthly increase, fears of a global recession and the uncertainty surrounding the markets. trade relations between China and China have prompted investors to buy safe haven assets.
Spot gold prices fell 0.4% to $ 1,520.39 an ounce at the end of the trading session, but ended the month with gains of about 7.5%.
Futures on US gold fell 0.5% to settle at $ 1,529.40 an ounce.
China's Foreign Ministry said Friday that US and Chinese trade negotiators were in active contact one day after the two sides discussed the next round of direct trade talks in September.
The Chinese Ministry of Commerce said on Thursday that the two sides were discussing the September meeting cycle, but added that it was important for Washington to eliminate tariff increases.
Positive trade signals also helped raise global equities to a one – week high, thereby limiting precious metal gains.
The escalation of the trade war between the world's two largest economies and the growing fears of a global slowdown have helped push up the price of gold by more than $ 100 in August.
The recent reversal of the US yield curve, in which short-term bond yields outperform long-term bonds, has caused investor concern, as it often precedes a recession.
Meanwhile, many analysts expect the US Federal Reserve and the European Central Bank to lower interest rates next month to boost the economy.
Among other precious metals, spot silver rose 0.3% to $ 18.30 an ounce, representing the largest monthly percentage increase since June 2016, with an increase of 12 % in August.
Platinum rose 1.7% to $ 932.03 an ounce, while palladium jumped 3.8% to $ 1,531.04 an ounce.
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