Home » Economy » Significant declines in gold prices in Egypt .. Where is the yellow metal going? (Video)

Significant declines in gold prices in Egypt .. Where is the yellow metal going? (Video)

Lost gold The peak of its rise in 5 months, and recorded a significant decline of about 2% this week, and the movement of the decline in gold came due to America’s announcement of the nomination of Jerome Powell as Chairman of the US Federal Reserve, which supported the dollar and led to a significant decline in the global price of gold, which is reflected in the price of gold. The yellow metal in Egypt.

Aswaaq discussed the reasons for the decline in gold prices in Egypt by about 19 pounds over the course of the week’s trading, as gold fell from 808 pounds per gram at the beginning of the week’s trading to 789 pounds per gram of 21 karat, according to today’s trading, as gold lost about 19 pounds in Egypt, with a decline The global price of gold from $ 1860 to $ 1792 according to the weekly closing price.

The price of gold now in Egypt is 789 pounds per gram of 21 karat, and the price of 18 karat gold is about 676 pounds per gram, and the price of 24 karat gold is about 902 pounds per gram, which are the prices now circulating in the goldsmiths markets in Egypt, according to the weekly closing price.

This decline in gold prices in Egypt came due to the significant decline in the price of gold globally, causing an ounce of gold to lose more than 2% throughout the week’s trading. From the gradual decline as a result of the nomination of Jerome Powell as Chairman of the US Federal Council.

Gold was also affected by a rise in the US dollar after the nomination of Jerome Powell as Chairman of the US Federal Council, as “Powell” supports the trend of raising interest rates in America and reducing stimulus programs, which would negatively affect safe havens and gold’s tendency to fall, because raising interest rates in any way. From the major countries, it will be directly followed by a drop in gold prices, and a decline in demand in general for safe havens.

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