We post the latest update aprice of gold Today, Friday, in the Egyptian market, a gram of gold was registered amid momentary variations in the price of the yellow metal 21 caliberIt is the best selling in Egypt – 1875 pounds at the time of writing these lines, and in the following lines we monitor the latest developments in the prices of the precious metal.
Gold prices today
18 karat registered 1607 pounds.
21 carats, a record 1875 pounds.
And 24 carats registered 2143 pounds.
The gold pound is £15,000.
Gold prices globally fell nearly 1% yesterday, Thursday (Dec. 15), after Jerome Powell, chairman of the Federal Reserve, said that next year will witness more interest rate hikes. $1,802.10.
Jerome Powell, head of the Federal Reserve, said on Wednesday that the US central bank would adopt further interest rate hikes next year, even as the US economy is sliding towards a possible recession, and justified it with the fact that the economy will incur a higher price if the central bank does not severely curb inflation.
Gold is known as an inflation hedge, but high interest rates tend to weaken its attractiveness because the opportunity cost of holding non-returnable metal increases, and the dollar index is up 0.1% and an increase of the dollar makes gold more expensive for foreign buyers.
In other precious metals, silver fell 2.7% to $23.24 an ounce, platinum fell 1.1% to $1017.25, while palladium fell 0 .7% to $1903.18.
