I retreated Gold price per ounce Below two thousand dollars, as an ounce at the time of writing these lines recorded the price of 1986 dollars, compared to 2009 dollars, which made prices in Egypt tend to decline by 10 pounds after a morning decline of 14 pounds, bringing the total decline to 24 pounds.
Gold price in Egypt today:
Caliber 18: 748 pounds.
Caliber 21: 873 pounds.
Caliber 24: 997 pounds.
The gold pound: 6984 pounds.
Reasons for the decline of gold
The main reason now for the decline in gold prices on the international stock exchange and in the Egyptian market is due to the rise of the US dollar, as gold is linked to the dollar, and an increase in the US currency increases the costs of acquiring gold.
Gold prices fell after approaching its record level, with the dollar holding near its highest level in 21 months and investors taking some profits, while the price of palladium rose after the Ukrainian crisis raised fears of a lack of supplies from Russia, its largest producer..