We publish prices gold In the Egyptian market today, Thursday, January 12, 2023, where a gram of gold of the main caliber 21 records a value of 1850 pounds per gram in today’s trading, amid a noticeable movement in the gold market.
Gold prices today:
18 karat, a record of 1586 pounds.
21 karat, a record of 1850 pounds.
And 24 karat recorded 2114 pounds.
And the gold pound is 14,800 pounds.
witnessed gold prices A remarkable increase since the beginning of 2023 locally and globally, in light of the current economic and geopolitical conditions, where gold is considered a safe haven for investors and a good hedge tool. The gold market was also affected by issuing a certificate with a return of 25%, and we witnessed the decline in the price of gold from 1820 to 1740 pounds.
And gold Bullion said, Central banks bought gold in record quantities in the third quarter of 2022, and the performance of gold in 2022 came as follows globally, achieving losses estimated at 0.3%, despite the losses, but that gold globally was able in the last three trading months to swallow 5 months of losses. Completely from last year, and locally, it achieved gains estimated at 108% during 2022
Gold Billion indicated that the US Federal Reserve is expected to continue its strict policy by raising interest, which is the only obstacle for gold to achieve gains and benefit from the current conditions, but for how long will it continue to raise interest! And when it will reach the target of inflation, then the performance of gold will be somewhat dependent on the US Federal Reserve’s move in the coming period. We would have witnessed weakness in the performance of gold and we might have found lower prices if there were no geopolitical developments.
On the other hand locally, after profit-taking operations, gold prices fell in the last months of 2022 to the level of 1550 pounds, to decline by approximately 300 to 350 from the achieved peak, but soon it rose again near its highest price affected by the price of an ounce globally and the rise in the official exchange rate in banks to approach the exchange rate in the parallel market.
