gold price
Suhaila Kandil
Gold prices varied in the local market today, Wednesday, amid the decline of an ounce on the global stock exchange near the level of 1706 dollars, following the relative rise of the US dollar, and the wave of decline during yesterday’s trading, with investors awaiting the release of US economic data later in the day, to obtain some indications regarding decisions The upcoming monetary policy of the US Federal Reserve.
For his part, Saeed Imbabi, Executive Director of the “i-Sagha” platform for trading gold and jewelry online, said that gold prices in the local markets fell by 15 pounds, to record a gram of 21 karat gold regarding 1081 pounds, while the price of a gram of 24 karat gold ranged regarding 1236 pounds, and a gram of 21 karat gold recorded regarding 1081 pounds. 18 karat gold recorded 927 pounds, and 14 karat gold followed it to a level of 721 pounds, and the gold pound reached 8648 pounds.
Imbabi explained that gold prices fell by 9 pounds during trading yesterday, Tuesday, as a gram of 21 karat gold opened trading at the level of 1105 pounds, and concluded transactions at the level of 1096 pounds, and the ounce opened trading at the level of 1708 dollars, and touched the 1726 dollars level, and transactions concluded at $1,723 level.
And the US jobs data, issued on Tuesday, showed a decline in the employment rate and a weak labor market due to the US Federal Reserve’s continuation to raise interest rates over the course of five meetings, to reach regarding 3.25%, in order to reduce the rising inflation rates, which led to renewed fears of economic recession, and prompted investors to The demand for gold as a safe haven to hedge once morest economic fluctuations.
