2023-08-23 12:52:50
Wednesday 23/August/2023 – 03:50 PM
Gold prices rose in the local markets during the middle of trading today, Wednesday, due to the rise in ounces in the global stock market, amid the markets’ anticipation for the meeting of central bank governors in Jackson Hole, Wyoming, next Friday, to obtain indications regarding interest rates.
Gold prices today in Egypt
Saeed Imbaby, executive director of the iSagha platform for trading gold and jewelry via the Internet, said that gold prices rose by regarding 5 pounds during today’s trading, and compared to the end of yesterday’s trading, so that a gram of 21 carat gold recorded the level of 2275 pounds, and an ounce rose by $ 5, to record 1903 dollars. .
He added that a gram of 24 karat gold recorded a level of 2600 pounds, a gram of 18 karat gold recorded a level of 1950 pounds, a gram of 14 karat gold recorded a level of 1517 pounds, and a pound of gold recorded a level of 18200 pounds.
Gold prices rose by 10 pounds during trading yesterday, Tuesday, as a gram of 21 carat gold opened transactions at the level of 2260 pounds, rose to the level of 2300 pounds, and concluded transactions at the level of 2270 pounds, while the ounce rose by regarding 3 dollars, as transactions opened at the level of 1894 dollars, It rose to the level of 1903 dollars, and closed the transactions at the level of 1897 dollars.
The reason for gold’s decline in the global stock market at the end of yesterday’s trading is due to the statements of Thomas Barkin, President of the US Federal Bank in Richmond, which showed the extent of the US Federal Reserve’s insistence on confronting inflation to reach the 2% target.
In a related context, a Bloomberg survey showed that gold still attracts the attention of investors, and many wealth managers indicated their expectation to keep or increase their holdings in gold during the next 12 months, in light of a state of uncertainty regarding the future of monetary policy and global inflation at the same time. Despite the challenges of gold prices during the recent period, as a result of the increase in yields on treasury bonds and the strengthening of the value of the dollar.
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