witness gold prices Today, Monday, a decrease of about 20 pounds in evening trading, so that gold fell near its lowest level in more than a month, and a gram of 21 carat gold, which is the best-selling in Egypt today, fell to 1720 pounds per gram.
Gold prices today
18 karat records 1474 pounds
21 karat records 1720 pounds
24 karat records 1965 pounds
The gold pound records 13,760 pounds
Global gold prices
Gold prices fell slightly on Monday as the US dollar weakened, while markets globally await a series of central bank meetings with the main focus on the Federal Reserve meeting, according to a Gold Billion report. gold price 0.19% to 1924 dollars an ounce. At the same time, the dollar index fell by 0.1%.
At the end of January 31 to February 1 at the US Federal Reserve’s first meeting in 2023, traders widely expect the US central bank to taper its interest rate increases to 25 basis points from December’s 50 basis points, the main focus of which will be investors On the tone Fed Chairman Jerome Powell will speak in his speech.
Gold, being a non-return asset, tends to benefit when interest rates are low because it reduces the opportunity cost of owning gold and other metals, according to the Gold Billion Gold Monitor report.
Data last Friday showed that consumer spending in the United States declined in December, while inflation continued to decline, which may give the Federal Reserve more leeway in easing the pace of interest rate hikes, at the same time holding the European Central Bank (ECB) and the Bank of England ( BoE) policy meetings this week, and gold may break the support at $1919 and fall in the range from $1883 to $1905 an ounce.
The Chinese Center for Disease Control and Prevention said in its latest weekly update that the current wave of coronavirus infections in China, the largest consumer of gold in the world, is coming to an end, and there was no significant increase in the number of cases during the Lunar New Year holiday, and that with continued openness Chinese economy, there will be greater demand for gold industry and luxury.
