2023-09-03 10:30:00
Books – Islam Saeed Sunday, September 03, 2023 01:30 PM
We publish the latest update on gold prices today, Sunday, in conjunction with the weekly holiday for the gold market in Egypt and the global stock exchange, where a gram of 21 karat gold, which is the best-selling in Egypt today, recorded 2220 pounds per gram.
Gold prices today:
24 karat records 2537 pounds.
21 karat records 2220 pounds.
18 karat records 1903 pounds.
The gold pound is 17,760 pounds.
Global and local gold price forecasts
Gold faced technical resistance around the areas of $1950 an ounce, to stop gold’s rise and return to fluctuating above the $1940 level awaiting today’s jobs report data, which is a strong incentive to move gold in either direction, according to the data.
Despite the recent recovery in gold prices, the decline is still in control in general, and gold needs an upward momentum that pushes it to settle above the 1975-1980 region of dollars an ounce in order to establish its feet and continue its rise.
As for the downside, we may witness strong declines, since the bearish trend is currently in control, and gold will have stations to fall at the $1930 level, and then the $1910 level, then the psychological level of $1900 an ounce.
As for gold prices locally, they continue to trade above 2200 pounds per gram of 21 karat, in continuous attempts to break this level, which may open the door for further decline and target the area of 2150-2155 pounds per gram, and then 2130 pounds per gram.
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