12/10/2026
Share:
12/10/2026
Share:
KUWAIT CITY, Oct 11: Gold prices in Kuwait continue to reflect movements in international markets, with the price of 24-karat gold reaching approximately KD 42.290 per gram, equivalent to around $137, while 22-karat gold stood at KD 38.760 per gram, or approximately $125. The price of one kilogram of silver reached KD 671, equivalent to around $2,177.
Globally, gold ended last week’s trading at $4,195 per ounce, recording weekly gains after a wave of declines had pushed prices close to $4,000 per ounce. The recovery came as markets awaited US inflation data and assessed the outlook for interest rates. According to a report issued by Kuwait based Dar Al-Sabaek Company on Sunday, the recovery was supported by bargain hunting following the price decline, improved investment demand, lower US Treasury yields during some trading sessions, and a relative weakening of the US dollar.
Gold experienced volatile trading throughout the week, initially coming under selling pressure due to rising US yields and renewed concerns about the continuation of tight monetary policy before recovering toward the end of the week. On Friday, the precious metal rose by more than 1.40 percent after reaching an intraday low of around $4,130 per ounce. It subsequently approached $4,207 before closing at approximately $4,195.
The rebound reflected renewed buying at lower price levels. However, gold’s inability to maintain gains above $4,200 per ounce leaves open the possibility of further volatility in the coming period. Gold’s recovery coincided with weaker US consumer confidence. The University of Michigan’s Consumer Sentiment Index fell to 46.3 points in October, down from 48.1 points in the previous reading and below market expectations of 47.6 points. The decline reflected growing pessimism among US households about economic conditions, potentially affecting consumer spending in the coming period. The data also strengthened demand for gold as investors assessed the possibility of a slowdown in the US economy and its implications for Federal Reserve policy.
The US interest rate outlook remains one of the main factors determining gold’s direction in the coming period. Market pricing indicated an approximately 81 percent probability that interest rates would remain unchanged at the Federal Reserve’s October meeting, with rates expected to stay within a range of 3.75 to 4 percent. Meanwhile, markets continued to price in an approximately 81 percent probability of a 25-basis-point rate increase in December, according to data cited in trading at the end of last week. (KUNA)
