Gold prices in the local market showed noticeable stability during trading on Tuesday, August 12, 2025, following the decline recorded by the 21-carat gold gram yesterday. Prices were as follows:

Globally, the price of gold ounce fell by 1.1%, hitting a low of $3357 after opening today’s trading at $3399, currently trading at $3363 per ounce. This comes after two weeks of gains, during which gold reached a two-week high of $3409 last Friday, before failing to hold above the $3400 level and heading towards the support level of $3350, followed by the 50-day moving average at $3335.

This decline is attributed to the easing of geopolitical concerns related to the war in Ukraine, following the announcement of an upcoming meeting between US President Donald Trump and his Russian counterpart Vladimir Putin on August 15 in Alaska to negotiate ending the war. This détente prompted investors to reduce demand for gold as a safe haven.

Investors are also awaiting the release of the US Consumer Price Index data this week, the main measure of inflation, amid expectations that recent tariffs will raise core inflation by 0.3% to an annual rate of 3%, exceeding the Federal Reserve’s target of 2%.