gold price.. Gold prices on the Egyptian Stock Exchange website recorded a limited increase for 24 karat, a difference of 6 pounds from the local goldsmiths markets, to 2670 for sale and 2657 for buying, taking into account the intraday changes in the indicative prices displayed on the Stock Exchange website without an index.
As for the goldsmiths’ markets, the price of a 24-carat gram amounted to about 2662 for sale and 2657 for purchase, and 21 carat recorded about 2325 pounds for purchase, and 2330 pounds for sale.
20 pounds, the price of gold declined last week
In addition, the report of the “i Sagha” platform stated today that gold prices in the local markets decreased by 0.9% during the trading week ending yesterday evening, Saturday, while the ounce rose by 0.7% during the trading week ending last Friday evening.
Saeed Imbaby, executive director of the platform, said that gold prices declined by 20 pounds in the local markets during the week’s trading, as a gram of 21 carat gold opened trading last Monday morning at the level of 2350 pounds, and closed transactions at the level of 2330 pounds, while the ounce rose on the global stock exchange by a value $13, as it opened the week’s trading at the $1948 level, touched the $1970 level, and closed the trading at the $1961 level.
Imbaby added that gold prices in the local and international markets continued to move in a narrow range between rise and fall during the week’s trading, as a result of a state of uncertainty and uncertainty about the economic conditions, indicating that gold prices in the local markets are witnessing a state of calm and stability, in light of a relative decline in the sales movement. Due to the lack of liquidity among citizens, purchasing desires are directed to purchase sacrificial animals in preparation for Eid al-Adha.
Gold recovered during the holidays with the wedding and marriage season
He expected the sales movement to witness a state of relative recovery during the holidays with the wedding and marriage season. The market may witness an increase in sales operations, but with a decrease in weights and purchasing values as a result of the rise in gold prices and the decline in the purchasing power of citizens.
Imbaby made it clear that gold strengthened its profits in global terms at the end of the week’s trading, due to the rise in US relief requests, which suggested expectations of the US Federal Reserve fixing interest rates during next Wednesday’s meeting, while the markets are awaiting inflation index data on Tuesday to obtain stronger indications about policy directions. cash for the US economy in the coming period.
Gold prices rose globally last week by 0.4%
Globally, gold prices completed last week’s trading, rising by 0.4%, to reach the level of $1,960 an ounce, but expectations about the price of gold remain mixed before a crucial week. The US dollar index rebounded at the end of Friday’s session, after the strong losses it incurred during the week, to record 103.525, and gold and the dollar have an inverse relationship. According to Investing.com.
The Federal Reserve is expected to install interest rates on June 14
The market is awaiting, with mixed expectations, the Federal Reserve’s decision on June 14, and the Open Market Committee is expected to keep the interest rate stable between 5-5.25%, as this will be the first time that the Fed has stopped raising interest rates since January 2022. However, attention will not be drawn much. Not to the interest itself, but rather to the future forecasts of the economy published by the Bank, and the members’ expectations of the interest path.
Chief market analyst at Onda, Edward Moya, says this pause will be a catalyst for gold prices to go up. Moya added, we will see more optimism that the Fed finishes raising interest rates.. “It seems likely that the Fed will stop the monetary tightening cycle, and if the updated expectations remain that inflation will come very close to the target, that could be good news for the gold bulls. Gold volatility should rise as prices can break out from the $1950 to $2000 trading range.”
On the other hand, experts believe that any surprises will have severe repercussions on gold’s rise, and it may fall below $1,940 an ounce.
The week provides its readers and followers with everything related to gold prices today in Egypt, as part of a comprehensive and continuous service that is provided throughout the day. The following are the gold prices as published by The Week a short while ago:
gold price today
Gold prices in Egypt today, Sunday, June 11, 2023
Today’s gold price is 24 karat
– The price of gold today.. the 24-carat record, the level of 2657.25 pounds for purchase, 2662.75 pounds for sale.
22 karat gold price
– The price of gold today..22 karat reached about 2435.75 pounds for purchase, 2441 pounds for sale.
21 karat gold price
– The price of gold today.. 21 karat recorded about 2325 pounds for purchase, and 2330 pounds for sale.
18 karat gold price
– The price of gold today.. 18 carat, amounted to about 1992.75 pounds for purchase, and 1997.25 pounds for sale.
Gold price today for 14 karat
– Gold price today.. 14 karat recorded the level of 1550 pounds for purchase, 1553.25 pounds for sale.
Gold price today for 12 karat
– The price of gold today.. 12 carat recorded 1328.5 pounds for purchase, 1331.5 pounds for sale.
9 karat gold price
– The price of 9 karat gold today reached 996.5 pounds for purchase, and 998.5 pounds for sale.
The price of an ounce of gold today, Sunday, June 11
The price of an ounce of gold today recorded 1961 dollars for sale, and 1960 dollars for buying.
The price of gold now.. stability in morning trading, and 21 karat records 2330 pounds
Gold prices.. The yellow metal has made profits of more than 500 pounds per gram since January
The price of gold in Egypt, June 11, 2023… a surprise in 21 karat
21 carat is now a surprise.. Gold prices in Egypt today, Sunday 6-11-2023
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