Islam Saeed wrote Saturday, February 3, 2024 02:24 PM
The General Division for Gold announced that gold prices in Egypt fell by about 200 pounds, with a gram of 21 karat gold, the best-selling gold in Egypt, recording 3,800 pounds, compared to 4,000 pounds as the market closing price yesterday.
Gold prices today
24 karat records 4343 pounds.
21 carat costs 3800 pounds.
An 18 karat carat costs 3257 pounds.
14 karat records 2533 pounds.
The gold pound is 30,400 pounds.
Decrease in contracts to buy and sell gold globally
The detailed Commitments of Traders report issued by the Commodity Futures Trading Commission, which shows the speculative situation on gold for the week ending January 30, showed that contracts to buy gold decreased by 35,264 contracts compared to the previous report, and contracts to sell gold decreased by 35,156 contracts compared to the previous report.
Late data issued by the Commodity Futures Trading Commission (COT) report shows a decline in contracts to buy and sell gold, which means there is uncertainty in the markets regarding investment conditions in gold currently. This comes due to the instability in the markets’ expectations regarding the future of US interest rates, which is reflected in foreign demand. Clear on gold.
On the other hand, the World Gold Council announced that global demand for gold, excluding over-the-counter trading, decreased by 5% to 4,448.4 tons of gold in 2023, but it remained strong compared to the ten-year average due to geopolitical and economic uncertainty.
The World Gold Council said in its report that demand for gold, including over-the-counter trading and other sources, rose by 3% to a new annual record level of 4,898.8 tons and supported the growth of the average gold price for 2023 to a record level of $1,940.54.
The series of central bank purchases of gold also continued at a significant level beginning in 2022, with central bank purchases reaching 1,037.4 tons in 2023, a decrease of 4% from the record level of 2022.
2024-02-03 12:24:00
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