Markets program in a new episode provided coverage on the developments of the gold market at the global and local levels, price expectations and market movement in the coming days.
Gold prices today, 18 karat, recorded 914 pounds
21 caliber recorded 1066 pounds
24 caliber record 1218 pounds
The gold pound is 8528 pounds
Gold market developments until yesterday It seems that things in the global gold market turned upside down. After an ounce of gold recorded levels that exceeded 1810 dollars, prices fell suddenly today, Friday, to 1773 dollars, to lose an ounce regarding 37 dollars in spot transactions, and this noticeable decline in the price of gold came As a result of positive data on employment rates in America.
The picture has been reversed from yesterday and the employment data has come to cast a violent shadow on gold prices at the moment. The safe haven fell during these moments of trading, today, Friday, following the strong rises in recent sessions, deepening its losses away from the levels of 1800 points an ounce, according to the investing platform.
Gold fell to levels near $1,773 an ounce, losing nearly 1%, while gold futures fell 0.86% to 1790 levels.
The very positive employment data came to demonstrate the strength of the American economy and the extent of the cohesion of the labor market, which was reflected in gold prices and made them tumble by nearly 1% in the current moments – at 4 pm Egypt time – as everyone is awaiting the American employment data to determine the strength and health of the economy The US, which entered a second quarter of contraction in gross domestic product, a technical sign confirming the entry of the economy into a state of recession.
The private sector employment report recorded the addition of 528 thousand jobs, and experts expected the addition of 250 thousand jobs. As for the jobs report in the non-agricultural private sector, it recorded the addition of 471 thousand jobs, and experts expected to add only 230 thousand, and the 10-year US Treasury bond yields rose by 0.79%. To settle at 2.697%, the yields of two-year treasury bonds also rose by 0.8% to record 3.0340%, as well as the yields of 30-year bonds increased by 0.42% to record 2.973%, and the dollar index recorded 105.78 once morest a basket of foreign currencies, up by 0.2%, and this comes following its strong rise In the last quarter, it broke through the 109 levels.
Investors are closely watching the health of the US economy following the latest figures showed a negative GDP reading for the second time in a row.
Gold prices today in Egypt were at the highest levels of gold this week, following prices rose during the past 48 hours, regarding 40 pounds per gram due to the movement of the dollar price, and a gram of 21 karat gold, which is the best-selling in Egypt, rose to 1070 pounds per gram, but with the global decline Gold in Egypt witnessed a decline of 10 pounds only due to the consolidation of the dollar.
