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We publish the gold prices in the overnight transactions of today, Friday, as the 21 karat gold gram, which is the best-selling in Egypt, registered 833 pounds per gram, 5 pounds less than the morning trade prices, while that an ounce of gold fell again, registering 1904 dollars.
Gold prices today:
18 gauge: 714 pounds
21 gauge: 833 pounds
24 gauge: 952 pounds
Gold pound: 6664 pounds
World Price: $ 1,904
The world gold market is affected by any new decision at an economic or even political level, and during this month the US economy was on a date with the decision of the Federal Reserve on interest rates, and they remained.
The Federal Reserve of the United States indicated that interest rates will remain at a level of zero percent until the end of 2023 at least, as announced by President Jerome Powell after the meeting of the Federal Open Market Committee of the Council, which lasted during the last two days. The news made headlines in world economic newspapers.
Although this decision was supposed to support the gold market and increase demand for it, what happened is that the dollar witnessed a significant rise over the last four weeks, which boosted investors’ risk appetite and decreased risk. demand for gold, which reduced its price.
The price of gold reached its peak in Egypt on August 5, 2020, registering 920 pounds per gram, which is the highest price recorded for 21-karat gold, which is the main gauge of the Egyptian market, after the ounce reached 2025 dollars, a record that gold registered for the first time in the world.
During 2020, observers confirmed that the drop in interest trading prompts investors to put their money in gold as a safe haven, increasing demand for it in an unprecedented way and pushing it to record historical prices.
Globally, gold prices rose to surpass the $ 2,000 mark for the first time in history last August as demand for the metal, which is considered a safe haven, was fueled by an interest rate climate. extremely low and hope for further stimulus in the United States to protect the coronavirus-hit economy.
