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The price of gold in Egypt rose 3 pounds today, Friday, to its highest level during the month of December 2020, to register 21 carats, which is the most traded and sold in Egypt, 823 pounds per gram, due to the rise gold globally to $ 1,885, rising to a record high this month, coupled with a major drop. To stocks in the United States due to high claims for unemployment benefits.
Gold prices today …
18 gauge recorded 705 pounds
21 gauge registers 823 pounds
Caliber 214 registers 940 pounds
The pound of gold is 6584 pounds
One ounce of gold is $ 1885
Gold prices reached a maximum of the week yesterday Thursday, as progress in the achievement of a fiscal stimulus agreement in the United States put pressure on the dollar, while the yellow metal received more support thanks to the commitment of the Federal Reserve (Bank Central America) to keep interest rates low until the economy recovers, and this is the first reason for the rise in gold.
Yesterday, Wednesday, the Fed more explicitly pledged to continue with the bond purchase program until there is significant progress in restoring full employment and reaching the 2% inflation target..
Despite the huge rise in gold last night, the precious metal fell 0.1 percent in spot trading to $ 1,884.41 an ounce before the close of the Tokyo Stock Exchange and on the week, up 2.4 percent from the start of the week, and gold in US futures contracts fell 0.1 percent to $ 1,889.40..
Margaret Yang told Reuters: “The US financial stimulus is taken into account in a way … so distributors are looking to make a profit before the weekend.” And here, profit-taking caused a relatively slight drop compared to the size of gold’s rise, which peaked this week, to offset losses. November 2020, after gold fell $ 100, with the start of distribution of the Corona virus drug to countries.
And here in the goldsmith market in Egypt, gold prices are expected to fall in the next few hours in response to a possible drop in the global price of an ounce of gold, with a tendency to reap profits.
