Gold prices in Egypt witnessed today, Thursday, an increase of 3 pounds in morning trading, as a result of the movement of global gold prices to levels of 1833 dollars an ounce due to negative economic data, which is reflected in the price of gold as a safe haven.
Gold prices today:
18 caliber recorded 687.42 sides.
21 caliber record 802 pounds.
24 caliber record 916.75 sides.
The gold pound is 6416 pounds.
An ounce of gold is $1,833.
And increased demand for gold following the decline in US Treasury yields, ahead of strong inflation data, widely expected, gold investors are in anticipation.
Analysts expect gold prices to remain largely near current levels until the release of US CPI data for January, which may provide further indications regarding the pace of interest rate hikes.
While a strong inflation reading is expected to raise gold prices as a hedge, an increase in US interest rates will raise the opportunity cost of the non-interest-bearing metal.
US 10-year Treasury yields fell from their highest level since November 2019 reached in the previous session, while the dollar stabilized, but remained far from its lowest level recorded last Friday.
