Islam Saeed wrote Friday, June 30, 2023 01:30 PM We publish the latest update on gold prices Today, Friday, the start of morning trading, coinciding with the third day of Eid Al-Adha, and a gram of gold was recorded 21 caliber– It is the best-selling in Egypt – 2275 pounds per gram without any factory addition, a clear decrease from the opening price of trading yesterday at 2300 pounds, down 25 pounds.
Gold prices today:
24 karat records 2600 pounds.
21 karat records 2275 pounds.
18 karat records 1950 pounds.
The gold pound is 18,200 pounds.
Gold price forecast
Expectations about the future of US interest rates contributed to a significant decline in the demand for the performance of investment funds in gold, in addition to the weakness of global gold prices and their trading at dangerous levels that may open the door for further decline.
The demand for gold-backed investment funds is witnessing a decline during the current period compared to the demand for government bonds, with the continuation of the monetary tightening policy by the Federal Reserve, which benefits the bond markets.
The SPDR gold investment fund, which is the largest global fund with total investments of $60 billion, has witnessed a decline since the beginning of the week. It fell last week by 1% and recorded its lowest level since mid-March.
While the fund lost the great positive performance that it had recorded since the beginning of the year after the support it got from the rise in gold prices to levels of $2080 an ounce, to record an increase since the beginning of the year by 5.05%, despite this, the SPDR fund was able to obtain inflows since the beginning of the year by 9.46 tons of gold.
2023-06-30 10:30:00
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