2023-05-25 10:36:00
Islam Saeed Books
Thursday, May 25, 2023 01:36 PM
register gold price The most common 21 karat today, Thursday, is 2350 pounds per gram, following it opened yesterday’s session at 2420 pounds per gram, declining by 2.5% and losing 70 pounds per gram, while the gold pound recorded today 18800 pounds, with the increase in supply and the decline in demand in the markets.
Gold prices today:
24 karat records 2691 pounds.
21 karat records 2350 pounds.
18 karat records 2019 pounds.
The gold pound is 18,800 pounds.
Gold moves within a specific range of trading that dominated its levels nearly two weeks ago, this comes following its decline yesterday near the support level of $1950 an ounce, as the negative pressure increases on the precious metal due to the strength of the US dollar and the rise in bond yields following the minutes of the Federal Reserve meeting yesterday, According to Gold Bellion.
Spot gold prices rose today, Thursday, slightly by 0.2%, to trade at the time of writing the Gold Billion report at 1961 dollars an ounce, following yesterday’s decline by 0.9%, so that the trading range between 1950-1980 dollars an ounce remains dominant in gold trading during the current period.
Since gold recorded its highest historical level at the beginning of this month at $2080 an ounce, it started a negative correction movement that pushed it to lose nearly $130, a decrease of more than 6%, due to expectations that US interest rates will continue to be at their highest levels for a longer period of time.
The minutes of the Federal Reserve’s meeting were issued yesterday, and showed a division among the bank’s members regarding the need to continue raising interest rates to reduce inflation or stabilize them at current rates for a period of time, especially that the US economy showed great economic flexibility in dealing with monetary tightening.
Federal Reserve member Christopher Waller said yesterday that the Fed may raise interest rates twice in June and July, indicating that the bank needs to continue monetary tightening as it is not making sufficient progress in reducing inflation rates.
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