settled gold prices Today in Egypt, at the beginning of today’s trading, the price of a gram of 21 karat gold, which is the best seller in Egypt, recorded a price that ranged between 1205 to 1210 pounds, with high demand and an increase in the global price of the yellow metal to levels of 1870 dollars.
Gold prices today
The price of 18 karat gold recorded 1037 pounds
The price of 21 karat gold recorded 1210 pounds
The price of 24 karat gold recorded 1383 pounds
The gold pound is 9680 pounds
Gold fell yesterday morning as the dollar rose to a two-decade high, reducing the attractiveness of dollar-denominated gold to holders of other currencies, while rising US Treasury yields put additional pressure on prices.
The dollar rose as investors searched for a safe haven that yields a return due to growing concerns regarding slowing global economic growth and rising interest rates.
US 10-year bond yields also rose to the highest level since November 2018, putting pressure on the non-yielding yellow metal prices.
While gold is a safe haven and store of value during times of political and economic crisis, it is very sensitive to short-term US interest rates as well as bond yields, which raise the opportunity cost of holding gold.