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Gold prices stabilized at the beginning of trading, from this morning, Friday, September 25, to show that the precious metal is at the same point since the close of the day on Wednesday, and in light of the daily services and various that we provide to our readers, where we review the average price of 24, 21 and 18 gold bullets and the pound. Gold is as follows:
24 karat gold
The price of 24 karat gold ranges from 935 to 937 pounds.
21 karat gold
The price of 21 karat gold varies between 818 and 820 pounds.
18 karat gold
The price of 18 karat gold ranges from £ 701 to £ 703.
The price of a pound of gold
The price of a pound of gold reached a value of 6 thousand 560 pounds.
Gold prices fell more than two percent, to their lowest levels in more than two months, amid the rise in the dollar, as investors await many measures from major central banks at a time of economic uncertainty, according to “Sky News”.
The spot price of gold fell 1.9 percent to $ 1,862.56 an ounce, after hitting its lowest level since July 22 at $ 1,861.60, and US gold futures contracts fell 2 , 1 percent to determine the closing price at $ 1,868.40 an ounce.
The temptation of the precious metal:
The dollar index reached its highest level in six weeks, which affected the temptation of the precious metal to holders of other currencies, and silver fell 6.2% to $ 22.91, after it registered its lowest price in two months when reached $ 22.81 earlier in the session, and lost Platinum rose 3.1 percent to $ 839.88 an ounce, after hitting its lowest level since July 20 at $ 836.50, while palladium It was up 0.5 percent to $ 2,232.07.
The Secretary of the Gold Division, Naguib Nadi Naguib, said during a telephone conversation with journalist Sherif Amer on the program “Happening in Egypt”, which is broadcast on the satellite channel “mbc Egypt”, that this period is witnessing a great quantity of gold for sale in the Egyptian market. Which led to a significant drop in gold prices during that period, and at the end of today’s trading, an amount of up to 17 pounds was recorded, helping to make a profit and return the financial market to a relatively normal state. .
The secretary of the Gold Division added that investors will try to buy back many tons of gold during the next period and said: “We will witness an increase in gold prices during the next period.”
Naguib Nadi explained that the fluctuation of gold prices, saying that the fall in gold prices during the current period is not stable, and is a trick for world stock markets, which push prices to move in accordance with the supply and demand.
Gold is a safe haven
The head of the gold division of the Federation of Chambers of Commerce, Dr. Wasfi Amin, explained that gold is the only safe haven for the public from the economic recession, after a state of fluctuation in prices was noted, but it remains a safe haven for all investors globally, especially Afterwards, the economy deteriorated as a result of the outbreak of the new Corona virus.
