Gold prices today in Egypt are witnessing remarkable stability at levels of 980 pounds per gram of 21 karat, following clear disturbances in gold prices during the past few hours, and gold recorded a decline to 970 pounds per gram and then moved to the level of 980 pounds.
The price of gold in Egypt today is 980 pounds per gram of the main 21 karat, and the price of a gram of 18 karat gold is 840 pounds per gram, while the price of a gram of 24 karat gold recorded 1120 pounds per gram and the price of the gold pound reached 7840 pounds, and these prices are not added to it. The price of gold workmanship, which some companies set to be 7% of the price per gram.
Saad Salimah, an expert in the metals markets, said that the gold market is awaiting this week a number of events, reports and indicators that might affect the path of the market and the global gold exchange. .
He pointed out, in exclusive statements, that these indicators may lead to adjustments in the directions of investors and those looking for safe investment, as traders are closely watching these data to know the trends of gold prices during this week.
He explained that the gold market in Egypt is not far from the developments in the price of gold globally, and gold may move in a price path and channel between 985 to 1005 pounds per gram of 21 karat this week, up and down, according to the course of things on the global stock exchange.
Gold prices fell 1%, following US Treasury yields and the dollar rose, with expectations for gold already damped by fears that the Federal Reserve will resort to a larger interest rate hike this month to tackle rising inflation.
The dollar hit a new record high in 20 years, hurting the demand for gold priced in the US currency among buyers who own other currencies. The 10-year US Treasury yields rose, undermining the allure of gold, which does not yield a fixed return.
