Gold prices rallied by around £15 at the end of the week’s trading, to record gold at an all-time high that prices have never reached before at £1290 per gram for the first time in history, a due to increased demand for gold bars in the Egyptian market, despite the global decline in the precious metal at the end of the week’s sessions.
Gold prices today
18 karat registered 1106 pounds.
21 carat registered 1290 pounds.
24 carats, a record 1474 lbs.
The gold pound is £10,320.
Mohsen Fawzy, board member of the Precious Metals Division of the Federation of Industries, said: gold prices The week’s trading ended lower, following the US Federal Reserve’s proposal and suggestions that the interest rate would reach levels 7%. This pushed Gold down to the $1750 level at the end of the weekly trading sessions.
He added, in exclusive statements, that the market in Egypt contradicts the global gold trend due to supply and demand factors, and whenever we see higher demand for gold, we will see it increase further in the coming days. in supply in addition to the sharp increase in demand, gold has recorded this historic level.
Globally, gold has posted weekly losses, but has still managed to hold on to most of its gains from the past two weeks, which indicates that the precious metal may have finally broken the downtrend that has been affecting it all along. the year.
said Robert Rowling, market analyst Kinesis Money Gold is proving admirably resilient despite real-world scrutiny by Fed officials over the possibility of a move away from the series of Fed rate hikes.
