witnessed gold pricesToday, Monday, the first day of Eid al-Fitr for 2022, gold prices rose in the Egyptian market, to record new records at 1160 pounds per gram of 21 karat – which is the most sold in Egypt – despite the decline in the global price of the yellow metal to levels of 1878 dollars per ounce.
Gold prices today
Carat 18 recorded 994 pounds per gram
21 karat records 1160 pounds per gram
24 carat recorded 1326 pounds per gram
The gold pound is 9280 pounds
Gold prices fell today, Monday, with the pressure of higher yields US Treasuries Demand for gold, ahead of a key meeting of the US Federal Reserve later this week, when the central bank is expected to raise interest rates.
Spot gold fell 0.3% to $1,890.69 an ounce at 00:53 GMT, and US gold futures fell 1% to $1,893.40.
The Federal Open Market Committee of the Federal Reserve is expected to start its two-day meeting on interest rates on the third of this month and announce its decision the next day.
It appears that Fed policy makers are ready to announce a series of aggressive rate hikes until at least the summer to counter rapid inflation and rising labor costs.
The yields of the benchmark US 10-year Treasury bonds rose on Monday, which put pressure on gold demand, and gold prices rose 1% on Friday following the US dollar fell, but ended April with a slight decline due to bets on the US central bank’s tightening of its policy.
As for other precious metals, silver fell in spot transactions 0.4% to $22.66 an ounce, platinum fell 0.2% to $929.51 and palladium fell 1.7% to $2281.99.
