Today, gold prices in Egypt witnessed a decline from December 5 to December 8, 2022, to record a noticeable decline from the level of $ 1814 to levels of $ 1600, with a total decrease of 214 pounds per gram of 21 karat, which is the best-selling in Egypt, with the continuing wave of unrest in the market amid Momentary changes in the price of the metal due to speculation, and the markets are witnessing disturbances in the gold pricing process, which prompted some applications to determine gold prices to stop pricing the metal, as well as major producing companies to stop buying and selling operations.
The average selling price of gold now in the gold market in Egypt is 1600 pounds of the main caliber 21. Expectations indicate the possibility of a decline in the price of gold in the markets during the coming hours, with the tendency of holders of the precious metal to sell bullion to reap profits.
Gold prices today:
18 karat recorded 1371 pounds.
21 caliber, record 1600 pounds.
And 24 karat recorded 1829 pounds.
The gold pound is 12,800 pounds.
Globally, gold prices fell with the dollar recovering slightly, while market participants await further guidance from the US Federal Reserve meeting next week regarding raising interest rates, and by 02:48 GMT, spot gold fell 0.2% to $1783.50 an ounce, after rising More than 1% yesterday, Wednesday, supported by the decline in the dollar and US bond yields, and US gold futures fell 0.2% to 1795.10 dollars.
Dollar index and interest
The dollar index rose 0.2%, making the yellow metal priced in the US currency more expensive for buyers than holders of other currencies. Most investors expect the Federal Reserve to raise the interest rate by 50 basis points at its last meeting in 2022, which is scheduled to be held on December 13 and 14. Market CPI report for November scheduled for release on December 13th.