Gold prices today witnessed remarkable stability in Egypt, and 21 karat gold, which is the most traded in Egypt, amounted to 1120 pounds per gram at the time of writing these lines, with the price of an ounce of gold recording 1811 dollars, as gold globally recorded a clear decline at the end of trading week
Gold prices today:
21 carat records 1120 pounds.
Carat 18 recorded 960 pounds.
24 carat record 1280 pounds.
The gold pound is 8960 pounds.
Gold in Egypt lost about 90 pounds over the course of the week’s trading, in light of the decline in the price of the dollar in the market about 17 piasters, as well as the decline of the dollar in the parallel market, which is reflected in the price of gold in goldsmiths
Gold was affected this week after factors, perhaps the most prominent of which were the reinforcement of arguments about the fastest series of raising interest rates since at least the 1990s, to combat inflation.
Although gold is considered a safe haven from inflation, higher US interest rates increase the opportunity cost of holding bullion, while boosting the dollar, the currency in which gold is priced.
US consumer price growth slowed sharply in April as gasoline prices retreated from record highs, indicating that inflation has likely peaked, but is likely to remain elevated for a while to keep the Fed poised to raise interest rates in order to calm demand. .