2024-03-20 07:23:00
Islam Saeed wrote Wednesday, March 20, 2024 09:23 AM
We publish Gold prices in Egypt today Wednesday, March 20, 2024, as gold recorded remarkable stability at the same levels as yesterday, 3,050 pounds per gram of 21 karat gold, which is the best-selling item in Egypt.
Gold prices today:
24 karat records 3486 pounds.
21 carat costs 3050 pounds.
18 karat weighs 2614 pounds.
14 karat records 2033 pounds.
The gold pound is 24,400 pounds.
Global gold trading
Gold returned to decline during yesterday’s session following recording a 0.2% rise yesterday, while the price has so far failed to break the main support area at $2150 – $2145 per ounce, due to weak momentum currently as investors await the results of the Federal Reserve meeting.
It is widely expected that the Federal Reserve will keep interest rates steady during its two-day meeting that ends on Wednesday, while markets await the release of economic forecasts by members of the bank, which some expect may see a change in the number of rate cuts this year.
The previous expectations of the Federal Bank members were last December, and the members expected 3 cuts in 2024, with a total of 75 basis points, but since last week, expectations began to appear in the markets that the bank members may indicate only one or two interest cuts during the year 2024.
Gold prices fell 1% last week following data showed that US consumer prices rose strongly in February and producer prices rose more than expected, dampening hopes for early interest rate cuts by the Federal Reserve.
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