Today, Friday, April 22, 2022, gold prices witnessed an increase of 10 pounds, and 21 karat gold – which is the best seller in Egypt – recorded 1090 pounds per gram, and the main reason for the rise in gold prices today in the Egyptian market is due to a price increase in the US dollar.
Gold prices today
Carat 18 recorded 934 pounds.
21 caliber record 1090 pounds.
24 carat record 1246 pounds.
The gold pound is 8720 pounds.
Alaa Rashid, an expert on precious metals markets, said that gold prices in Egypt are going against the direction of the global stock index, due to the link between gold prices here and the dollar price, whether in the banking market or the parallel market, noting that the factors for the rise of gold in Egypt are now linked to the dollar and as long as we witness A rise in the dollar in Egypt, gold will continue to rise even if the global price of gold is stable
He added, in exclusive statements, that gold prices in the Egyptian market recorded increases of about 65 pounds per gram within 48 hours, and confirms that the global price of gold was affected by the rise in US bond yields, which pushed the prices of an ounce of gold to decline from 1991 dollars to 1947 dollars in spot trading.
The expert explained that the market is unstable and the consumer cannot make a decision to buy now, as this madness in gold prices creates a state of turmoil in gold purchases, and we may find significant declines in the volume of gold sales.
He pointed out that the future of gold prices in Egypt is now linked to the price of the dollar in the market, because the force affecting gold prices in the Egyptian market is the dollar and not the gold screen globally, so the indicators are linked to the dollar, and the rise of the dollar means more gold rise