continued gold prices Its decline in Egypt decreased by 5 pounds, and 21 karat gold, which is the most traded in Egypt, reached 1075 pounds per gram at the time of writing these lines, for gold to continue its decline following recording historical levels at the beginning of this month.
Gold prices today:
Carat 18 records 921 pounds.
21 carat records 1075 pounds.
24 karat records 1228 pounds.
The gold pound is 8600 pounds.
And gold prices in Egypt witnessed a decline of regarding 140 pounds during the past week, following prices recorded high levels and were measured this month, following the rise of the dollar in the parallel market, but discipline returned to prices in part, with the dollar falling regarding 17 piasters this week, following instructions were issued to return to documents Collection instead of documentary credits.
Global gold prices
The global price of the yellow metal closed with a noticeable decline this week, bringing an ounce of gold to its lowest level since February 4, 2022, due to the strength of the dollar and the rise in US bond yields, which put pressure on gold and caused an ounce of gold to fall to 1796 dollars.
Gold was affected by factors, most notably the reinforcement of arguments regarding the fastest series of raising interest rates since at least the 1990s to combat inflation, and although gold is considered a safe haven from inflation, the rise in US interest rates increases the opportunity cost of holding bullion, while strengthening the dollar, The currency in which gold is priced.
