Saeed Imbaby, CEO of the “iSagha” platform, confirmed the rise in gold prices, today, Tuesday, April 4, by 10 pounds per gram in the local markets.
Gold price in Egypt
A report issued today, Tuesday, revealed that gold prices achieved the following levels at the conclusion of the Egyptian goldsmiths’ dealings:
. The price of 24 karat gold is at 2457 pounds per gram.
. The price of 18 karat gold is at 1843 pounds per gram.
. The price of 14 karat gold is at 1434 pounds per gram.
. The price of a gold pound is about 17,200 thousand pounds.
. The price of 21 karat gold is at 2150 pounds per gram.
While the ounce fell to the level of 1981 dollars.
iSagha report on the price of gold
The “i Sagha” report stated that gold prices rose in the local markets during trading today, Tuesday, despite the ounce’s decline slightly in the global stock market, due to the rise in the dollar, and the growing expectations of raising interest rates at the US Federal Reserve meeting next May, amid the turmoil in the global markets. With the sudden announcement yesterday by some OPEC + countries to reduce their oil production, which raised investor concerns about its impact on inflation rates.
And he continued, that gold prices witnessed a state of instability in the local and international markets, during yesterday’s trading, Monday, as a gram of 21 carat gold declined at a value of 35 pounds, as it opened transactions at the level of 2175 pounds, and fell to the level of 2125 pounds, and concluded transactions at the level of 2140 pounds, while An ounce rose by $15, as it opened trading at the level of $1969, fell to the level of $1951, rose to the level of $1991, and closed trading at the level of $1984.
The report indicated that the state of price fluctuations that witnessed global markets during yesterday’s trading is attributed to the announcement by the OPEC + group of a sudden reduction in crude oil production, but the price movement changed and rose with the decline of the dollar after the issuance of economic data indicating a decline in the activity of the US manufacturing sector in March. The past to its lowest level in nearly three years as new orders fell and may continue to decline due to tightening credit.
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