testify Gold price in Egypt today Sunday, March 13, 2022, marked stability in conjunction with the weekly holiday, and gold trading stopped on the global stock exchange, as well as the Egyptian market, and the price settled at the same weekly closing levels for gold at 886 pounds per gram of the main carat 21, and in the context of the following lines we review gold prices in the Egyptian market As well as price developments within a week and the status of the price of gold on the global stock exchange.
Gold prices in Egypt today, Sunday, March 13, 2022
18 karat at 743 pounds.
21 caliber at 886 pounds.
24 karat for 990 pounds.
The gold pound is 6928 pounds.
Gold prices fell at the close of trading on Friday, the last trading hours of the gold week, by 0.5% to close below the levels of $2000 an ounce, as the yellow metal witnessed a volatile week, with expectations of a possible interest rate hike from the US Federal Reserve, but analysts warned that the escalation in Ukraine may It stimulates more demand for safe haven.
The future of gold prices
Gold is now consolidating, with the possibility of an interest rate hike by the US Federal Reserve, adding some pressure as investors wait for additional developments surrounding Ukraine, said Brian Lane, an expert in the metals market.
Data at the end of this week showed that inflation in the United States rose during February, confirming expectations of raising interest rates next week, which in turn would increase the opportunity cost of holding non-returning bullion.
Michael Hewson, chief market analyst at CMC Markets UKwhile corporate earnings are currently dwarfing gold, which has taken a breather, the escalation in Ukraine would throw technical factors “out the window”.
Investors rushed to safe-haven assets as the Ukraine crisis escalated, boosting gold prices last Tuesday to near record levels set in August 2020, but the rally has since slowed.
The spot price of palladium rose 0.9% to $2,955.62 an ounce, and the metal hit a record earlier this week amid fears of supply disruptions from Russia, the world’s largest producer, with the West signing a slew of sanctions over its invasion of Ukraine.
Silver fell 0.2% to $25.82 an ounce, and platinum rose 0.2% to $1070.65, but it recorded its biggest weekly decline since November.
Gold prices in Egypt during the week
In more than one trading session on gold this week, we witnessed big jumps for gold, bringing prices to record levels at 900 pounds per gram of 21 karat, which is the best-selling and sought-following in Egypt, following global ounce prices jumped to levels of $ 2070 in some trading sessions, at a time when it increased The demand for the yellow metal in global stock exchanges with the continuation of the Russian-Ukrainian war and the imposition of more sanctions on Russia.