Gold prices today in Egypt witnessed a decline of regarding 10 pounds in evening transactions, and a gram of 18 karat gold recorded a price of 874 pounds per gram, at the time of writing these lines, with a decline in the price of gold on the global stock exchange.
Gold prices today:
Carat 18 records 874 pounds.
21 carat records 1020 pounds.
24 karat records 1166 pounds.
The gold pound is 8160 pounds.
Gold prices rose this week, with the continued weakness of the dollar, recording a rise for the second week in a row, amid bets on a more conservative monetary policy of the Federal Reserve. Weekly, gold closed up 0.5%.
The minutes of the Federal Reserve’s monetary policy meeting on Wednesday May 3-4, 2022, released on Wednesday, highlighted that most participants favor an additional 50 basis point rate hike at the June and July meetings.
Higher interest rates and higher short-term bond yields in the US increase the opportunity cost of holding bullion, which produces nothing. The dollar index fell, posting declines for the second week in a row, making bullion less expensive for buyers holding other currencies.