Books – Islam Saeed
Thursday, May 25, 2023 09:00 AM
We publish the latest update on gold prices in Egypt today, Thursday, and a gram of 21 karat gold, which is the best-selling in Egypt, recorded 2380 pounds per gram, amid a clear fluctuation in the demand for gold in the Egyptian market, following continuous changes in prices.
Gold prices today
24 karat records 2720 pounds
21 karat records 2380 pounds
18 karat records 2040 pounds
The gold pound is 19040 pounds
Gold prices in the global stock exchange
Gold moved in a narrow range during trading yesterday, Wednesday, as the markets await some progress in the talks on raising the US debt ceiling, while today the markets await the release of the minutes of the Federal Reserve meeting in an attempt to obtain more signals about the future of monetary policy, according to technical analysis of Gold Billion. .
Gold trading was confined to the level of $1975 an ounce, after gold prices reached yesterday near the important support level of $1950 an ounce, before rising before the end of the session and closing on a positive note.
Gold has been trading in a narrow trading range between $1950 and $1980 an ounce for about a week after losing the key $2000 level, amid continuing uncertainty over a US debt default, along with volatile expectations about the future of US interest rates.
Talks continue between both the Republican and Democratic political parties on raising the US government’s debt ceiling of $31.4 trillion, but any progress appears difficult and there are few signs of a deal anytime soon, according to Gold Billion.
This comes ahead of the June deadline for a default which could have dire consequences for the global economy as Treasury Secretary Janet Yellen has warned on more than one occasion and stated that it is now “very likely” that her department will run out of sufficient cash in early June.
The continued tension resulting from the US debt crisis helps gold to stabilize to some extent and settle above the important support level of $1950 an ounce, because gold plays the role of a safe haven in the markets in times of crisis.
On the other hand, gold finds more support from expectations of a slowdown in growth in the US economy and the global economy in general, which increases safe-haven requests for gold. performance in general, which portends a possible economic recession.
2023-05-25 06:00:00
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