I retreated gold prices In Egypt today, in evening transactions, regarding 35 pounds, and a gram of 21 karat gold – which is the best seller – recorded 1050 pounds per gram, compared to 1085 pounds per gram, with the price of an ounce of gold declining from 1861 dollars to 1855 dollars.
Gold prices today:
18 karat records 900 pounds.
21 carat records 1050 pounds.
24 karat records 1205.75 pounds.
The gold pound is 8400 pounds
Globally, stock exchanges witnessed the dollar’s retreat from its highest level in two decades, amid increasing concerns regarding US economic growth, which led to the revival of demand for safe havens, and gold prices rose by 1.9% last week due to the decline in US bond yields as well.
Since bullion does not yield any interest, it may become less attractive to investors when short-term interest rates in the United States are raised on global exchanges. However, gold is seen as a safe store of value in times of economic crisis.
A Archyde.com poll of economists showed that the Fed will raise interest rates by the end of this year than was expected just one month ago, keeping the risks of a recession alive. Spot silver fell 0.66% to $21.75 an ounce, but rose regarding 3.5% this week, Platinum fell by 1% to $ 952.75, and palladium fell 2.43% to $ 1958.2.
