We publish the latest update in gold prices in morning trading today, Tuesday, after gold prices rose by about 8 pounds, to record gold in Egypt today for 21 karat, about 1075 pounds, with the return of high demand for gold in Egypt.
Gold prices today:
Carat 18 records 921 pounds.
21 carat records 1075 pounds.
24 carat records 1228 pounds.
The gold pound is 8600 pounds.
Global gold prices
US gold futures prices rose on Tuesday, August 23, 2022, despite their decline in spot transactions, to approach their lowest level in a month, with the decline in the attractiveness of the yellow metal against the rise of the dollar, and investors continue to wait for the Federal Reserve and interest rates to rise sharply.
The price of US gold futures rose 0.14% at $1,750.8 by 9 GMT, before falling back again to $1,736.
“The fears that the Fed Chairman will send a tough message at the symposium to Jackson Hole along with warning of a recession caused the dollar to rise and affect the yellow metal,” said Matt Simpson, a senior market analyst at City Index. It surpassed its highest level in two decades in July.
The Fed’s rapid rate hike since March and comments about further tightening have reduced gold’s appeal as an inflation hedge.
Gold prices have fallen more than $300 since it topped $2,000 an ounce in early March 2022.