Today, Thursday, October 29, 2026, the price of gold in Algeria witnessed a slight decline, affected by the decline of the global ounce by 0.7%, to settle near the levels of $4,040. This comes amid investors’ evaluation of the US Federal Reserve’s decision to stabilize interest rates, and anticipating the release of US inflation data later today.
Gold prices in the Algerian market move according to the equation of the international price of an ounce multiplied by the exchange rate of the dollar against the dinar. It should be noted that the announced prices do not include the value of workmanship and fees added by merchants, which vary between goldsmiths’ shops and from one state to another, in addition to being affected by the exchange rate difference between the official and parallel markets.
Regarding the latest data issued by the Algerian market, the price of a gram of 24 karat gold was about 17,600 Algerian dinars, while the price of a gram of 21 karat gold was about 15,400 Algerian dinars. In the same context, the price of a gram of 18 carat gold – which is the most common in gold jewelry locally – reached 13,200 Algerian dinars. As for the gold pound, which weighs 8 grams of 21 carat, its price reached 123,300 Algerian dinars, without taking into account workmanship.
Globally, gold fell in spot transactions by 0.7% to record $4,039.26 per ounce during Asian market trading at dawn today, in light of the anticipation of important American data. At the same time, US futures contracts for December delivery settled at $4,051, affected by pressure resulting from the consolidation of the US dollar, which raised the cost of the precious metal for holders of other currencies.
These developments came after the decision of the Federal Reserve Board, headed by Kevin Worsh, to hold interest rates unchanged in the range of 3.75% to 4%, while postponing the adjustment to the cost of borrowing until after the midterm elections next week, amid an indication that inflation is still high. The “Feed Watch” tool indicates that traders have a 78% preference for raising interest rates in December, compared to 84% before the decision was issued, noting that high interest rates increase the opportunity cost of holding gold that does not generate a return.
Local gold prices remain dependent on the movement of the global ounce and the dollar exchange rate, with the $4,000 level considered a pivotal monitoring point, awaiting the release of US personal consumption expenditures data today, in addition to anticipating the European Central Bank’s decision regarding the interest rate expected to be fixed. If the precious metal succeeds in maintaining its trading above the $4,000 barrier, the local market may witness a limited rebound, while the possibilities of decline remain if pressures increase supported by the strength of the dollar, rising yields, and expectations of raising interest rates.
