Naguib Naguib, a member of the Gold Division of the Federation of Chambers of Commerce, said that the reasons for the decline in gold prices during this period are due to the decision to increase the interest approved by the US Federal Reserve, which amounted to 75 points, as it had an impact that a large part of the people who invested in banknotes sold quantities of gold. Large gold trending banknotes.
He added during the special coverage of Youm7 TV about gold prices, “The decline in gold prices is natural because we are in an open market to the outside and we are directly affected by any increases or decreases in global stock exchanges.
He continued about the impact of savings certificates on the decline in gold, and said, “Indeed, the demand for savings certificates was the reason for the decline in gold.” other.
The price of gold continued to decline during Monday’s trading, and 21 karat recorded its lowest level in two and a half months, in the Egyptian goldsmiths markets, despite the rise in the dollar index globally, which is trending parallel to the local gold prices, as 21 karat reached 982 during evening trading. pounds.