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Gold prices rose in Egypt today, by £ 5, so the precious metal continued to rise for the third day in a row, to register 21 gauge 750 pounds per gram without labor, after the gold increase yesterday, around 14 pounds per gram in light of the large increase in gold worldwide.
Ihab Wasef, deputy head of the gold division at the Chamber of Commerce, said that the precious metal witnessed a 0.68% increase in current trade, thanks to the increase in demand for precious metals, due to the continuous haze that surrounds the world economy, due to the Corona pandemic.
Gold prices today:
18 gauge: 642.85 lbs.
21 gauge: 750 pounds per gram.
24 gauge: 857.10 pounds per gram.
Gold Pound: 6000 pounds.
World price: $ 1724.
“The market is more likely to make a profit from gold simply because it is near high levels of a recently recorded range,” said Stephen Ines, chief market analyst at financial services firm Axi Corp., adding that the United States has injected more stimulus, and this is really positive for gold because it increases the country’s fiscal deficit. “
The dollar rose against the main rival currencies, against the peak of two weeks earlier in the session, increasing the cost of gold over other currency holders, according to Reuters.
Asian stock markets have increased as the combination of a recovery in oil prices from historically low levels and a promise of more support from the US government. USA To mitigate the impact of corruption in the economy from the Corona virus, they have helped calm tense markets. Gold tends to benefit from the general stimulus measures of central banks, as it is considered a hedge against inflation and a decrease in foreign exchange.
As for other precious metals, palladium rose 0.6% to $ 1,949.18 an ounce, platinum rose 0.4% to $ 760.35 an ounce, while silver gained 0.6% to $ 15.24 an ounce.
