2023-07-25 16:43:03
Tuesday 25/July/2023 – 07:41 PM
Gold prices declined in the local markets during the middle of trading today, Tuesday, while the ounce rose on the global stock exchange, despite the release of US consumer confidence data, which showed high morale and positivity of citizens towards economic activity, which reinforces the US Federal Reserve’s position to continue to tighten monetary policy during the coming period.
Gold price in Egypt
Saeed Imbaby, executive director of the iSagha platform for trading gold and jewelry via the Internet, said that gold prices fell by 10 pounds in the local markets during today’s trading, and compared to the end of yesterday’s dealings, so that a gram of 21 karat gold recorded the level of 2150 pounds, while the ounce fell by $ 5, to record the level of 1960 dollars.
The price of gold today, Tuesday
He added that the price of a gram of 24 karat gold recorded the level of 2457 pounds, the price of a gram of 18 karat gold recorded the level of 1843 pounds, the price of a gram of 14 karat gold recorded the level of 1434 pounds, and the gold pound recorded the level of 17200 pounds.
And gold prices had declined by regarding 5 pounds in the local markets with the close of trading yesterday, Monday, as a gram of 21 carat gold opened transactions at the level of 2160 pounds, rose to the level of 2165 pounds, and concluded transactions at the level of 2155 pounds, while the ounce declined by regarding 7 dollars, as it opened transactions at the level of 1962 dollars, and closed transactions at the level of 1955 dollars.
US consumer confidence data
Later today, US consumer confidence data was released, which showed high sentiment and positivity of citizens towards economic activity, giving the US Federal Reserve more strength towards tightening monetary policy in the coming period.
The CB consumer confidence index data for July revealed a record of 117.0 points, compared to expectations of recording levels of 111.8 points, while the previous reading in February was revised and raised to 110.1 points from 109.7 points.
This data comes amid the markets’ anticipation of the results of the US Federal Reserve meeting today and tomorrow, to determine the fate of interest rates.
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