With the constant changes in the market movement goldit will be difficult to read the future scene of the precious metal’s movement in the global stock exchange as well as the local market, in light of a wave of major turmoil in the markets, a continuous movement in global inflation and the continuation of the negative repercussions of the Russian-Ukrainian war. Over the period from 2016 until now, as well as the answer to the question .. When can it be said that the price of gold collapses.
At first, Alaa Rashid, an expert in the mineral markets and president of Gold Billion, sees that gold prices It is heading towards a noticeable upward movement since the flotation period in 2016, where prices recorded levels of 600 pounds, which is a great resistance level for gold. Then a series of ascents in different stages and periods of time.
He added, in exclusive statements, that the closest point of resistance faced by gold in Egypt after that was recording the level of 928 pounds per gram as its highest price in 2021, and then the market returned after that and declined to record 740 pounds and the metal moved in a channel between the two prices, then the market continued to rise strongly to record after that, 1250 pounds as the highest A historical price that gold reached during May 2022.
He stressed that the decline that occurs in prices currently cannot be called a downward trend for gold, and we can judge gold and say that it recorded a descending level when prices reach the level of 740 pounds per gram of the main carat 21 again and that this level is far from the current prices.
Regarding the price of an ounce globally, he revealed that there can be no strong and real decline in the price of an ounce unless there is a decline to a level below 1675 dollars, and that this level is the decisive factor in determining the direction of ounce prices globally during the coming period, noting that the analysis of the ounce movement and analysis Gold prices, which are bond yields, silver prices, and the dollar index, and that the dollar price movement is proactive before gold, and that the relationship between gold prices and the dollar index is inverse.
I conclude, that given the movement of the silver price, we find it stable and coherent, and this gives us a positive view of the future of gold prices, which will be more coherent and stable in the coming period, and that the weekly closure of gold indicates positive indicators, and the expectation of a rise in gold prices, whether in the local market, the price of gold globally.