Gold prices in evening trading recorded Monday, May 18th, a decrease of 8 pounds, after an unprecedented rise in the markets today, and the price of 21 carat gold amounted to 760 pounds per gram, after the return of the price of an ounce of gold to decline after it recorded its highest levels in 7 years .
Gold prices after falling ..
18 gauge 651.5 pounds per gram
Caliber 21 recorded 760 pounds per gram
Caliber 24 recorded 868 pounds per gram
The gold pound is 6080 pounds
An ounce of gold is 1735 dollars
Data last Friday showed that retail sales and industrial production fell in April in the United States, putting the economy on the path of its biggest contraction since the Great Depression..
Jerome Powell, Chairman of the Federal Reserve, said that the American economic recovery may extend for the following year and that the return of the entire economy may depend on reaching a vaccine for the Corona virus..
The Bank of England is looking more urgently at options such as negative interest rates as the economy slides towards a deep economic downturn due to the Corona virus, according to the bank’s chief economist, according to an analysis quoted by Reuters.
Gold is an attractive investment in times of political or economic turmoil. Lower interest rates also reduce the cost of lost opportunity to acquire the non-yielding yellow metal.
Gold rose 1% today, Monday, to its highest level in more than seven years, while weak US data highlighted the extent of damage caused by the Covid-19 pandemic to the largest economy in the world, while palladium rose more than 9% thanks to expectations of higher future demand.
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