We publish gold prices today, Friday, April 5, 2024 in Egypt, according to the latest developments in the yellow metal markets at the local and global levels.
The latest update for gold prices today was as follows:
The price of a gram of 24 karat gold is about 3,548 pounds.
The price of a gram of 22 carat gold is about 3,252 pounds.
The price of a gram of 21 carat gold is about 3,105 pounds.
The price of a gram of 18 carat gold is about 2661 pounds.
The price of a gram of 14 karat gold is about 2070 pounds.
The price of a gram of 12 karat gold is about 1774 pounds.
The price of a gram of 9 karat gold is about 1,330 pounds.
The price of the gold pound is 24,840 pounds.
The price of gold fell to $2,285 today, Friday, after reaching another new record high above $2,300 in the previous session. Ongoing geopolitical risks in the Middle East and expectations of monetary policy easing by the Federal Reserve (Federal Reserve) may lift the yellow metal, and market participants await a report. US Non-Farm Payrolls (NFP) for March are expected to gain new momentum on Friday, which is expected to see 200,000 jobs added in March.
Meanwhile, the US dollar index (DXY), a measure of the value of the US dollar against a weighted basket of currencies used by US trading partners, recovered to 104.20, rebounding from two-week lows of 103.90 US Treasury yields fell, with the term yield falling 10 years to 4.30%.
Yesterday, Thursday, initial unemployment claims in the United States rose last week to the highest level since January, according to the Department of Labor, and the number of Americans filing new applications for unemployment benefits rose to 221,000 for the week ending March 30 compared to the previous week of 212,000, which is worse than estimates. Of 214 thousand Meanwhile, continuing claims fell to 1.791 million in the week ending March 23.
Fed Chairman Jerome Powell reiterated that the interest rate is likely to peak in the current session, while adding that policymakers at the Federal Open Market Committee see it as appropriate to start cutting interest rates if the economy develops as the Fed expects. These cautious comments create tailwinds for the precious metal.
Rising geopolitical tensions in the Middle East are boosting traditional safe-haven assets like gold in the near term. Going forward, US March employment data, including non-farm payrolls (NFP), unemployment rate, and average hourly earnings, will be in the spotlight. On Friday, the stronger result may provide some support to the dollar and limit the upside of US dollar-denominated gold.
2024-04-05 08:11:24
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