Gold prices witness a constant fluctuation between a rise and a decline in the goldsmiths market in Egypt, depending on a number of factors that control this, perhaps the most important of which is its relationship to the dollar exchange rate, in addition to the many changes that the global market is witnessing, amounting to more than one change throughout the day. Many who are concerned regarding what will happen to the situation in the coming period with regard to gold prices, and whether they will rise or will return to the decline that they witnessed before the global economic crisis that hit all countries.
Expectations of a rise in gold prices in the coming period
Therefore, a member of the Gold Division of the Cairo Chamber of Commerce, Amir Rizk, came out to speak and resolve the controversy over the price of a gram of gold, whether it will rise next November, that is, following regarding three months to come, provided that the rise ranges between 200 and 250 pounds in the price of a gram the one.
The date of the rise in gold prices during the coming period
In a press statement, a member of the Gold Division of the Cairo Chamber of Commerce attributed the significant increase that experts and specialists expect in the price of gold to the global inflation witnessed, especially in the United States of America. Which will affect its price, and will also make most investors rush to invest in gold, as it is a safe haven, which will lead to a significant increase in demand for it and then increase its price in all countries.
Can the US Reserve face inflation?
A member of the Gold Division at the Cairo Chamber of Commerce explained that the US Reserve Bank will not be able to face the inflation that the world will witness during the coming period, and therefore will raise interest rates at weak rates; This would lead to investors resorting to investing in gold.
The price of a gram of gold today in Egypt
The price of gold globally recorded 1747 dollars per ounce, while the price of a gram of gold in the local markets recorded a remarkable price stability, as the price of a gram of 21 karat gold reached 1080 pounds, while the price of a gram of 24 karat gold reached 1234 pounds, and the price of a gram of 18 karat gold recorded regarding 926 pounds, and the price of the gold pound reached 8640 pounds.
During the last period, gold prices witnessed pressure as a result of the dollar’s return to the rise in the US Treasury bond yields for ten years, which caused the non-yielding yellow metal, which is denominated in dollars, to decline by 2.7 percent this week, and US Federal Reserve officials said they need to continue increasing interest due to high inflation.
