After the dollar price rose since yesterday after raising interest rates in Egyptian banks, gold prices fell during trading today, Friday, after rising in local markets on Thursday morning, as ounces are fell in global markets amid investor anticipation of the US Federal Reserve meeting next week, regarding interest rates, which are expected to rise 75 basis points.
Said Imbabi, CEO of one of the digital platforms for trading gold and jewelry online, said gold prices fell by 15 pounds during today’s trading in local markets, compared to yesterday’s close of trading, and the gram 21-karat gold dropped to 1205 pounds, while the ounce dropped to $ 1641.
21 carat gold gram
One gram of 21-karat gold records 1205 pounds
24 carat gram of gold
He added that one gram of 24-karat gold registered the 1377-pound level.
18 karat gold gram
And one gram of 18-karat gold registered a level of 1033 pounds.
14 karat gold gram
One gram of 14-karat gold scored 803 pounds.
gold pound
The gold pound registered the level of 9640 pounds.
world gold prices
The price of an ounce of gold reached $ 1641
He pointed out that gold prices in local markets rose by 64 pounds during trading yesterday, Thursday, during the suspension of the official price market, due to the instability of the dollar exchange rate after some banks had recorded around 23.16 pounds, and one gram of 21-karat gold opened trades at the 1200 level. Pounds and closed trades at the 1203 pound level, while the ounce stood at the $ 1661 level.
Gold is a commodity that is traded on a daily basis and therefore the price of gold globally can continuously rise and fall on a daily basis.
There are many factors that influence the price of a gram of gold in one way or another, including:
Global interest rate The interest rate is determined by the central banks of the countries of the world, increasing or decreasing its value, depending on the economic situation of the country.
Global Oil Prices: The oil market usually sees a rise and fall in the average price, and therefore some resort to buying gold as it is economically safer, and therefore the price of gold increases as does the amount of production and the rate of supply and demand.
