We publish the latest update in gold prices today, Thursday, October 6, 2022, as prices record remarkable stability, and the price of a gram of 21 karat gold, which is the best-selling in Egypt, reached 1080 pounds without adding workmanship, and this price may witness significant changes in the coming hours as gold continues to trade in Egypt.
Gold prices today:
Carat 18 records 926 pounds.
21 caliber records 1080 pounds.
24 carat records 1235 pounds.
The gold pound is 8640 pounds
Globally, gold prices rose during trading today, Thursday, in conjunction with the weakness of the dollar and US Treasury bond yields, while investors await the monthly jobs report that may affect the Federal Reserve’s interest rate hike strategy.
During a speech at Northwestern University, Rafael Bostik, President of the Federal Reserve Bank of Atlanta, called for raising the interest rate between 4% and 4.5% by the end of this year, in order to reach a point where monetary policy is moderately restrictive before stopping to monitor How the economy and prices interact.
Despite recession fears, Goldman Sachs raised its US growth forecast in a research note, forecasting third-quarter GDP growth of 1.9%, compared to the 0.9% previously expected.
As for US data, the weekly jobless claims data is due later today, with the focus then turning to the jobs report for the month of September, which is expected to be released on Friday.
Reasons for the decline in the price of gold
The General Division of Gold and Jewelery announced an increase in the volume of gold supply in the local market, which is reflected in the prices in the markets, and a noticeable decrease in gold losing 33 pounds per gram, then the price rose 22 pounds, then gold fell back 15 pounds in yesterday’s trading.
Gold prices rose globally to exceed an ounce of gold levels of 1705 dollars following falling to 1660 dollars, recording weekly gains, as it ignored the concerns related to inflation in Europe and the United States, coinciding with the losses of the American stock market.
