Today, Saturday, the price of gold in Egypt witnessed a slight decline in the value of one pound, to record 21 carat, which is the best-selling price in Egypt, at 832 pounds per gram, after gold fell globally to 1901 dollars from 1909 dollars.
Gold prices today ..
18 caliber recorded 713.25 pounds
Caliber 21 recorded 832 pounds
Caliber 24 recorded 950.75 pounds
The gold pound is 6656 pounds
An ounce of gold, 1901 dollars
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Expectations to approve a US stimulus package compensated for the impact of the pressures imposed by the strong dollar, and there was little change on gold in spot trading after the price fell to 1,903.36 dollars an ounce, after dropping more than 1% in the previous session, and US gold futures rose 0.01 % To $ 1905.80 yesterday.
Gold, which is seen as a hedge in the face of potential inflation, is as high as 0.3% per week, and Cameron Alexander, director of commodity research at Refinitiv Metals Research, said, “Concerns about the rise in Covid-19 infections and the increased likelihood of a Democratic victory in the US election, which is likely to generate greater stimulus. A weak dollar is helping gold to rise, according to Reuters
The dollar index rose 0.1% against a basket of major currencies, which increases the cost of gold to holders of other currencies.
As for the other precious metals, silver fell 0.9% to $ 24.54 an ounce, but it is heading for a weekly gain of 1.5%. Platinum fell 0.3% to $ 882.40 and palladium rose 0.6% to $ 2,387.02.
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