Written by Islam Saeed Monday, November 6, 2023 01:30 PM
I witnessed Gold prices in Egypt A noticeable increase of about 10 pounds, so that a gram of 21 carat gold, which is the most popular in Egypt, moved from 2575 to 2585 pounds per gram without any manufacturing addition, and on the other hand, it decreased. gold price On the global stock market, recording a decline of 0.3% at the beginning of the week’s trading.
Gold prices today:
24 karat records 2953 pounds.
21 caliber costs 2585 pounds.
18 karat weighs 2216 pounds.
The gold pound is 20,680 pounds.
Gold prices at the beginning of the week’s trading
I blinked gold prices At the beginning of the week’s trading, in light of the continued weakness of the dollar levels and US Treasury bond yields, ahead of Federal Reserve Chairman Jerome Powell’s speech later this week.
The spot price of gold fell today, Monday, by 0.3% to record the lowest level at $1,982 per ounce, and at the time of writing the Gold Billion technical report, it is trading at the level of $1,986 per ounce. This comes after gold declined last week by 0.7%, as it failed to maintain its trading above the 2,000 level. Dollar per ounce.
Last week saw the US Federal Reserve meeting, which showed a less hawkish outlook for monetary policy than markets expected, serving as the starting point for weakness Dollar And a noticeable decline in government bond yields, in addition to lower-than-expected US jobs data for October, which increased selling operations on… Dollar Broadly speaking, markets are increasingly anticipating that the Federal Reserve has finished its interest rate hike cycle this year.
Markets now place a probability of more than 95% that Federal Bank It will stabilize interest rates during its next meeting in December, and as a result we saw the yield on 10-year bonds fall last week by 5.5% to reach a 5-week low at 4.484%.
On the other hand, the dollar index, which measures its performance against a basket of 6 currencies, declined last week by 1.5%, but gold failed to benefit from all these factors, due to weak demand for safe havens in financial markets, after fears about the expansion of the war in the country subsided. Gaza Strip and the accession of other parties.
2023-11-06 11:30:00
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