We publish the latest update in gold price Today, Sunday, December 18, 2022, in the goldsmiths market, where prices witness a noticeable decline in all bullets circulating in Egypt, and a gram of 21 karat gold, which is the most traded in the market, records 1730 pounds in today’s trading, and these prices may witness other changes in the coming hours.
Gold prices today in Egypt recorded 1483 pounds for 18 karat, and 21 karat gold recorded a price of 1730 pounds per gram, and 24 karat reached a price of 1977 pounds, and finally a gold pound 13840 pounds, and an ounce of gold 1794 pounds.
Gold futures contracts rose at the end of trading on Friday, December 16th, trimming the losses recorded throughout the past week. At the end of trading, gold futures contracts for February delivery rose by regarding $ 12.40, or 0.7%, to $ 1800.20 an ounce, recording weekly losses of regarding 0.6%.
“Precious metal prices rebounded in the middle of the week, on the back of weak inflation data and hopes the Federal Reserve will stop raising interest rates soon,” said Rob Haworth, chief investment analyst at US Bank Wealth Management.
He added, “The hawkish announcement from the Fed late Wednesday, December 14th put heavy pressure on gold prices.”
Commerzbank expects gold to drop to around $1,750 an ounce until it becomes clear that the US rate hike cycle has ended, while prices will rise to $1,850 by the end of 2023.
