Price of gold in Qatari market increase by 0.08 percent

(MENAFN) During the current week, the price of gold in the Qatari market saw a modest increase of 0.08 percent, reaching a value of USD2,515.03 per ounce, according to recent data published by Qatar National Bank (QNB). This slight uptick in gold prices underscores a growing trend in the precious metals market within Qatar, reflecting both local and global economic factors influencing the demand and value of gold.

The data provided by QNB highlighted that this increase in gold prices comes after the commodity was valued at USD2,512.83 per ounce just the day before. The incremental rise, although modest, indicates a positive movement in the gold market, which continues to attract investors looking for stable and reliable assets amidst fluctuating economic conditions.

In contrast to the rise in gold prices, other precious metals in the Qatari market experienced declines over the past week. Silver, for instance, recorded a significant drop of 1.41 percent, with its price falling to USD29.44 per ounce, a decrease from the USD29.86 per ounce that was observed the previous day. This decline in silver prices is part of a broader trend affecting various precious metals, which have shown vulnerability to market pressures and economic shifts.

Similarly, platinum prices also witnessed a notable decrease of 2.73 percent over the same period. The metal's price dropped to USD943.07 per ounce, down from USD969.54 per ounce at the start of the week. The decline in platinum, along with the decrease in silver prices, contrasts sharply with the steady rise in gold, highlighting the divergent paths these metals are taking in response to market dynamics and investor sentiment.

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