We publish the latest update in gold prices in the Egyptian market, which is settling near high levels at 1110 pounds per gram of the main karat, while the global price of gold fell at 1895 dollars.
Gold prices today:
18 caliber record 950 pounds.
21 caliber record 1110 pounds.
24 carat record 1270 pounds.
The gold pound is 8810 pounds.
Gold prices rose on Tuesday as investors sought safe assets amid concerns regarding global growth and rising inflation, but bets on sharp US interest rate hikes kept the yellow metal close to its four-week low hit in the previous session.
Spot gold rose 0.3% to $1,903.70 an ounce by 09:53 GMT, and prices touched $1,890.20 on Monday, the lowest since March 29.
US gold futures rose 0.5% to $1,904.40 an ounce.
With the US Federal Reserve expected to raise interest rates by half a percentage point at each of its next meetings, there was concern in the markets that the rapid pace of tightening might hamper the global economic recovery.
The dollar, a rival safe haven, rose to a two-year high, making gold priced in dollars more expensive for holders of other currencies and holding back further gains for the precious metal.
Meanwhile, palladium rose 1% to $2,166.26 an ounce, a day following concerns regarding falling demand due to Covid closures in China, which led to its decline by 12.9%.