Islam Saeed Books
Tuesday, February 14, 2023 11:00 PM
The seventh day publishes the latest update on gold prices Today, Tuesday, February 14, 2023, in Egypt, at the close of trading today, Tuesday, after a drop in prices by about 10 pounds this morning, to record a gram of 21 carat gold, which is the most popular in the goldsmiths market, 1710 pounds without adding workmanship.
Gold prices today:
18 karat records 1466 pounds.
21 karat records 1710 pounds.
24 karat records 1954 pounds.
The gold pound recorded 13,680 pounds.
price hike gold Globally, due to the decline in the dollar globally, with investors preparing for US inflation data that may determine the next steps of the Federal Reserve in its monetary policy plans, and gold rose by 0.50% to 1863 dollars, after it fell to its lowest level since early January in the previous session, and gold became vulnerable Because interest rates rise, which raises the opportunity cost of holding a non-yielding asset.
And the technical report of Gold Billion said that the trend of declining inflation in the United States showed signs of slowing down, even if it was temporary. The caution of the hawkish Federal Reserve may undermine risk sentiment and gold, while the dollar may find more support, and investors await with interest data on the consumer price index in the United States. United States for January due for release later today
The report indicated that if the consumer price index came weaker than expected, it is likely that the US central bank will bear a slowdown in raising interest rates, and this may mean the resumption of the weakness of the US dollar and the recovery of gold, and many policy makers in the Federal Reserve recently indicated that more is needed. Raise interest rates to bring down inflation to the 2% target, and money markets expect the Fed’s target interest rate to peak at 5.1% in July, from 4.5% to 4.75%.
The report revealed that gold investors are trying to anticipate the next move of the Federal Reserve, with indications that (the Fed) may need to remain hawkish for a longer period, however, we expect the weaker dollar to remain on a downward path for the rest of the year, which supports gold.