2023-06-05 14:48:32
gold.. Gold managed to rise during the current trading time, to record an ounce of 1959 dollars, from the opening level of 1948.5 on Monday morning.
The price of gold rose on the global stock exchange by 0.53% in spot contracts, while gold jumped in futures contracts by 0.26% to $1974.5.
This came in conjunction with the decline in the dollar index, which measures the dollar’s performance once morest six other currencies, by 0.01%, below the level of 140 points, and following the ISM services purchasing managers’ index fell to 50.3 in May of 2023 from 51.9 in April, which indicates the fifth consecutive month of the year. Expansion in the services sector, but it is the slowest in the current sequence, according to data from the Institute for Supply.
The numbers came in below expectations at 52.2, amid a slowdown in business activity (51.5 vs. 52), new orders (52.9 vs. 56.1) and new export orders (59 vs. 60.9) while employment contracted (49.2 vs. 50.8).
Suppliers’ delivery times were also faster (47.7 vs. 48.6) and capacity improved, which in many ways is a product of sluggish demand.
Meanwhile, inventories rebounded (58.3 vs. 47.2) and price pressures eased to their lowest level since May 2020 (56.2 vs. 59.6).
“The majority of respondents indicate that business conditions are currently stable, however, there are concerns regarding a slowdown in the economy,” said Amanuel Dantes, chief US market economist.
Gold price in Egypt
Regarding gold prices today in Egypt, they ranged as follows:
– price gold 21 karat at 2350 pounds per gram.
The price of 24 karat gold is 2695 pounds per gram.
– The price of 18 karat gold at 2014 pounds.
The price of the gold pound is at 18,800 pounds.
Also read..
The gold price on the Egyptian Stock Exchange today, Monday, June 5, 2023, upsets the scales
The price of gold now.. cautious stability amid anticipation in the goldsmiths market
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