Today, Monday, gold prices witnessed a noticeable rise in the Egyptian market, thanks to the emergence of some weak data on US jobs, which raised hopes for more financial stimulus, which helped put pressure on the dollar.
The spot price of gold was trading at 1813.96 dollars an ounce, by 05:52 GMT, up 0.1 percent from the previous closing price, while US gold futures rose 0.1 percent also to record 1815.50 dollars an ounce.
In the same context, Hui Li, the economist, said that the markets were justifiably frightened by the very low level of non-farm payrolls in a report last Friday, which raises economic uncertainty as well as high expectations for more fiscal stimulus from the United States, and gold responds to that.
The dollar index fell from a two-month peak last Friday, after weak US job data, which showed many concerns about the emergence of a slow recovery in the United States, but the ten-year Treasury yields rose to their highest level since March of last year, the limit. Gold gains, and higher returns increase the opportunity cost of holding the non-yielding metal.
- The prices of a gram of 21-carat gold ranged between 794 and 797 pounds.
- The price of a gram of 14-carat gold ranged between 529 and 531 pounds.
- The price of a gram of 18 carat gold ranged between 680 and 683 pounds.
- The price of a gram of 22-carat gold ranged between 831 and 835 pounds.
- The price of a gram of 24 carat gold reached between 907 and 910 pounds.
- The price of a pound of gold ranged between 6352 and 6376 pounds
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