Written by Reham Al-Basha
Wednesday, May 10, 2023 01:30 PM
witnessed Gold bullion prices Today, there is remarkable stability in Egypt, in conjunction with the stability of the price of a gram of gold. In the context of the following lines, we review gold prices in Egypt for all the different weights circulating in the gold market without adding workmanship and fees.
Gold bullion prices today
The price of a gold bar, weighing one gram, is 2914 pounds
The price of the gold bar, weighing 2.5 grams, is 7258 pounds
The price of a gold bar, weighing 5 grams, is 14,570 pounds
The price of a gold bar, weighing 10 grams, is 29,140 pounds
The price of the gold bar, weighing 20 grams, is 58,280 pounds
The price of an ounce of gold, weighing 31.1 grams, is 90,625 pounds
The price of a gold bar weighing 50 grams is 145,700 pounds
The price of a gold bar weighing 100 grams is 291,400 pounds
Gold prices in the global stock exchange
Gold prices moved weakly during today’s session, Wednesday, to witness a slight decline amid uncertainty about the US debt ceiling and slowing economic growth, while markets continue to focus today on US inflation data that will be issued today, according to gold Bullion. It is trading at the time of writing the report at the level of $2029.14 an ounce. This comes after gold recorded an increase for two consecutive days, with prices settling above the level of $2000 an ounce.
The slight decline in gold prices today does not reflect the continued recovery of demand for gold as a safe haven in the markets in light of the continuation of the US debt ceiling crisis and fears of a deepening US economic recession.
Yesterday, a meeting between US President Joe Biden and Republican policymakers ended on Tuesday without any concrete progress toward raising the federal debt ceiling, although the president reiterated that the US will not default.
This comes after US Treasury Secretary Janet Yellen warned that the delay or failure to take a decision to raise the US debt ceiling will cause the economy to contract sharply, with her indication that starting in June the government will be unable to pay its bills and obligations unless Congress approves raising the debt ceiling. .
Gold was able to be a strong support area at the level of $2000 an ounce, after it was able to record a historic level during the past week at $2080 an ounce, supported by the Federal Reserve’s indication in its last meeting of the possibility of a temporary halt to raising interest rates, which supported the rise in gold prices.
2023-05-10 10:30:00
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