2023-11-19 00:00:00
Sunday, November 19, 2023 02:00 AM
Youm7 TV broadcast special coverage on trends in gold prices, which are witnessing fluctuations, rises and falls, which has led to a state of instability. The latest update on gold prices in Egypt today, Saturday, recorded a gram of 21 carat gold, which is the most popular in Egypt, at 2715 pounds per gram, while the stock market closed. The global trend rose 2.2% this week, recording $1,980 per ounce.
The coverage reviewed that gold rose last week to record the largest weekly gain in four weeks, in light of the decline in dollar levels and US bond yields amid growing expectations that the Federal Reserve has finished tightening its monetary policy.
Sameh Abdel Hakim, a member of the Gold Division of the Chamber of Commerce, said during a telephone interview with the coverage that the local price is linked to the international price, and that within one month the price of gold globally rose by about $160, so there is a significant global increase, adding that the price of gold is affected by the price of the currency in the parallel market. This is one of the reasons for the rise in the price of gold.
He continued, by the end of the year there will be other successive rises in gold, in addition to the fact that the events in Gaza also contributed to this rise in prices.
Spot gold recorded an increase last week of 2.2%, achieving gains of $42. It recorded the highest level during the week at $1,993 per ounce, which is the first week in which it achieved gains after two weeks of losses.
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