International media have reported that with the increase in inflation in America and the rise in the value of the dollar, the price of gold has reached its lowest level in the last month.

Gold prices rose on Tuesday to their highest level in nearly two weeks, as the dollar slipped to multi-year lows on bets that US interest rates would stay lower for longer under the Federal Reserve's new policy framework.

The High Economic Council has reduced the valuation of gold at customs from $25,000 to $10,000 per 1kg of gold, to help control illegal smuggling and increase national revenues.