Kuwait City, Jan 23: With a five percent rise since the outset of the year, the price of gold in Kuwait has surpassed the $1,926 per ounce barrier.A report by Dar Al-Sabaek Company on Sunday noted that the price of gold hovered at $1,926 per ounce on Friday as fears of a global economic recession and the easing of the US interest rates directly contributed to the increase in gold prices which is regarded a "safe haven" in times of economic stress. According to the report, the price of 24 carat gold on the local market was KD 18.78 per gram and the price of 22 carat gold was KD 17.02 per gram. Silver, meanwhile, rose to 279 per kilogram.
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