Gold prices in Egypt jumped today, Friday, with the market tendency to close, as the price in the market rose by 12 pounds, as a result of the movement of global gold prices to levels of 1858 dollars due to negative economic data, which is reflected in the price of gold as a safe haven.
Gold prices today: 18 karat recorded 696 pounds. 21 caliber record 812 pounds. 24 carat record 928 pounds. The gold pound is 6496 pounds. An ounce of gold is $1,858.
And the demand for gold increased after the decline in US Treasury bond yields with the announcement of inflation data, which revealed the continued rise of consumer prices significantly in the United States of America. The inflation reading was expected to raise gold prices as a hedging tool, the increase in US interest rates would raise the opportunity cost of the non-interest-bearing metal. US 10-year Treasury yields fell from their highest level since November 2019 reached in the previous session, while the dollar stabilized, but remained far from its lowest levels.