© Reuters.
Investing.com – After a wave of strong gains coinciding with the state of calm that began to dominate the exchange rates in the Egyptian market, it recorded a drop of more than 30 pounds in Egypt during trading today, Sunday.
The prices of 21 karat decreased, by 30 pounds, with the beginning of today’s trading, according to data from gold trading institutions, as the most widespread 21 karat in Egypt recorded a decline below levels of 1850 pounds per gram.
Violent fluctuations are witnessed in Egypt, with the continuation of the global economic crisis and the Russian-Ukrainian war, coinciding with the decline in the value of the pound against the dollar, after 3 flotations in one year.
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Prices now
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14 karat gold fell to 1217 pounds per gram
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The price of 18 karat gold fell to 1564 pounds per gram
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The price of 21 carat gold decreased to 1825 pounds per gram
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The price of 24 karat gold fell to 2086 pounds per gram
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The price of the gold pound fell to 14,600 pounds
gold globally
Gold prices rose by about $23 at the end of trading on Friday, succeeding in achieving a fourth consecutive weekly gain.
This comes in conjunction with the decline of the US dollar, amid expectations that the Federal Reserve will raise interest rates at a slower pace.
Gold gained 2.8%, equivalent to $52, in the last ending week, with the yellow metal rising to the highest level since April 2022.
And the price of futures contracts increased by the end of Friday trading by 1.2%, equivalent to $ 22.90, to reach $ 1921.70 an ounce.
And the price of immediate delivery of the yellow metal increased by 1.3%, to record $ 1921.57 an ounce, and gold prices rose on Thursday by about $ 20 with the decline of the US currency.
On the other hand, the one who monitors the performance of the US currency against 6 major currencies declined, by 0.04%, at 102.210 points, and is heading for the worst week since November 11, 2022.
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pound now
Today, Sunday, the private bank rates screen revealed that the dollar exchange rate recorded levels of 29.65 pounds per dollar for sale and levels of 29.61 pounds per dollar for purchase.
In national banks, the exchange rate of the dollar against the pound in the National Bank and Banque Misr has so far recorded levels of 29.55 pounds per dollar and levels of 29.5 pounds per dollar for purchase.
According to the price screen of the Central Bank of Egypt, the exchange rate of the dollar against the pound recorded levels of 29.6367 pounds per dollar for sale, and levels of 29.5053 pounds per dollar for purchase.
Since the third flotation began in 2016, and the fourth since November 2016, the pound has fallen against the dollar, falling within the limits of 20%, down from levels of 24.75 pounds to the dollar.
