Gold prices witnessed at the beginning of the week’s trading, a decline of about ten pounds, to record a gram of 21 carat gold, which is the best-selling in Egypt, 1070 pounds per gram, compared to 1080 pounds per gram in trading yesterday, Sunday.
Gold prices today:
21 carat records 1070 pounds.
Carat 18 records 917 pounds.
24 karat records 1223 pounds.
The gold pound is 8560 pounds.
At the global level, gold prices rose during these moments of trading today, Monday, in the range of 0.2%, or the equivalent of $3 per ounce, to reach levels near 1795 dollars, while it fell earlier to levels below 1790 dollars an ounce.
Stephen Innes of the S Foundation says: BI Asset Management: “Gold has started quietly as the market is still digesting the implications of a strong US jobs report and how much it will affect the Federal Reserve.
The S Foundation added. BI Asset Management thinks the July increase in non-farm payrolls raises the odds of a 75 basis point rate hike in September which should be negative for gold.”
Data from the US Department of Labor showed that the economy added 528,000 jobs in July, well above expectations of 250,000 jobs.
And gold succeeded in recording weekly gains thanks to concern about geopolitical tensions between the United States and China, after the visit of House Speaker Nancy Pelosi to Taiwan, while China launched several missiles near Taiwan during military exercises.