Two weeks after the significant rise of gold on Friday night, May 7, 2022, gold achieved the highest levels in its history, as it recorded gold At the time, levels of 1250 pounds per gram of 21 karat, and gold fell since that date until now, about 250 pounds per gram, as gold fell to 1,000 pounds per gram in trading today, Friday, with the decline in the price of the dollar, as well as the calmness of speculation on gold in the markets.
Gold price in Egypt It has been recording high levels since the beginning of this hair, following a noticeably high demand for gold, which reduced the supply and caused prices to rise to levels of 1250 pounds, and the pricing of gold at the price of a dollar higher than the dollar in banks at the time, caused this great rise However, things in the gold market began to calm down over the past 14 days, as gold settled at 1,000 pounds per gram.
Gold prices in the markets after the decision to raise interest rates
After the Central Bank of Egypt decided, in a meeting held yesterday, to raise interest rates by 200 basis points “2%,” gold prices in Egypt began to witness a noticeable decline by about 20 pounds, bringing the price of gold in Egypt from 1070 to 1050 pounds at the conclusion of Thursday’s trading.
Gold prices today, Friday
Today, Friday, gold prices in Egypt are witnessing a significant decline for the second time, as gold continues to decline clearly throughout this week, and a gram of 21 karat gold recorded a decline of 45 pounds in the middle of today’s trading, as the price of a gram reached 1000 pounds per gram, due to heavy selling of gold.