testify Gold prices today, Saturday July 30, 2022, recording a high level this week, following gold prices globally witnessed a remarkable rise to levels of 1766 dollars per ounce, compared to 1735 dollars the day before yesterday, despite raising the interest rate in the United States of America to 2.5% at the Federal Reserve Board meeting on Wednesday evening The past, which decided to raise interest rates by 75 basis points, and the statements of the Federal Reserve Chairman that the bank had slowed the pace of raising interest rates caused a high demand for gold
Gold prices today
21 caliber: 1016 pounds
24 caliber: 1161 pounds
Caliber 18: 871 pounds
Caliber 14: 679 pounds
The gold pound is 8128 pounds
Global gold prices
Gold prices gained following the dollar and bond yields continued to decline in the wake of US economic data, making the yellow metal set to record the best week in nearly 5 months, and gold in spot transactions rose 0.6% to $ 1766.08 an ounce, and rose regarding 2.3% since the beginning of the week In the best performance since early March 2022, US gold futures rose 0.7% to $ 1780.70.
Jeffrey Haley, chief analyst at OANDA, said gold is still inversely correlated with the dollar and yields, and their recent decline has given it some support this week, according to Archyde.com news agency..
Despite the good weekly performance of gold, it is still set to record the fourth consecutive monthly decline, which is the worst series of monthly losses since November 2, 2020, and the dollar remained for most of July 2022 hovering around its highest levels in 20 years, which undermined the demand for gold. Quoted in US currency among holders of other currencies.
Also affecting gold prices was the adoption of a tough approach by major central banks of interest rate hikes and monetary tightening in their attempt to combat inflation, as well as the strong performance of US Treasury yields earlier in July..
Higher interest rates and bond yields increase the opportunity cost of holding gold, but 10-year US Treasury yields fell Friday, July 29, 2022, and the US economy unexpectedly contracted in the second quarter, which increased the risks of an economic slowdown, contributing to a jump of more than 1 % in the price of gold, which is considered a safe haven, yesterday, Thursday.
As for other precious metals, silver rose in spot transactions by 1% to $ 20.18 an ounce, while platinum rose 1.5 percent to $ 901.08, and palladium fell 1.5 percent to $ 2046.16, but it rose by regarding 5.8% this month, which is its best performance since February..
