Islam Saeed Books
Friday, February 10, 2023 01:27 PM
witness gold prices In Egypt, today, Friday, February 10, 2023, an increase of 10 pounds, to record the price of a gram of gold. 21 caliber– It is the best-selling in Egypt – today, the level of 1730 pounds per gram, amid the rise in the price of an ounce of gold globally to levels of 1864 dollars, and in the context of the following lines, we monitor developments in gold prices globally and locally.
Gold prices today:
18 karat records 1483 pounds.
21 karat records 1730 pounds.
24 karat records 1977 pounds.
The gold pound recorded 13,840 pounds.
Gold prices yesterday, Thursday, February 9, 2023
Gold prices rose during yesterday’s trading, but remained below the level of $1900, and gold recorded the level of $1885, an increase of 0.50%. At the same time, the US dollar index, which measures the strength of the dollar against a basket of six major currencies, declined by 0.50%, and in the wake of the weak upward trend so far. The lack of interest in buying gold by investors can be linked to the hawkish comments of the Federal Reserve, as well as data highlighting inflation concerns from US diplomats.
And the report added, after we witnessed the employment data, Federal Reserve officials, including Chairman Jerome Powell, renewed inflation fears and allowed the US dollar index to regain bullish momentum, after retreating from its highest levels in a month, the same thing joins the absence of major positives from declining inflation to confirm the upward trend. For gold prices, however, Fed Governor Christopher Waller sparked a protracted battle with an inflation target of 2.0% by citing expectations of monetary tightening for longer than expected.
New York Federal Reserve Chairman John Williams was almost on the same line as he said the labor market remains very strong and indicated that they have more work to do on rates. More data will determine the path for higher prices. Fed Governor Lisa Cook said: The central bank remains focused on restoring price stability, as inflation remains very high. She added that they need tight monetary policy for some time.
Not only are Fed officials pointing to inflation concerns, but US diplomats have also been highlighting concerns that challenge gold’s bullishness. Among them, US Treasury Secretary Janet Yellen said: While inflation remains high, there have been encouraging signs that the mismatch between supply and demand has been declining in many sectors of the economy.
Elsewhere, US President Joe Biden said during an interview with PBS that there will be no US recession in 2023 or 2024. The same thing allows the Federal Reserve to adhere to its tight monetary policy amid inflation problems and the challenge of recovery in the price of gold.