We release the latest gold price update today, Sunday, November 13, 2022, after prices recorded historic levels at 1270 pounds per gram of 21 carat, which is Egypt’s best-selling, against a backdrop of rising gold prices. gold on the global stock market at 1770 dollar levels. Let’s examine the expectations of the movement of gold this week globally and its reflection on the Egyptian market.
Gold prices today:
18 carats registered 1088 pounds.
21 carats, a record 1270 pounds.
24 carats, a record 1450 pounds.
The gold pound is 10160 pounds.
What happened in one week?
Gold prices rose at the end of the week’s trading amid the dollar’s decline against most major currencies, with the precious metal posting strong weekly gains and the precious metal posting its best weekly performance at least since July 2020 after signs of slowing inflation appeared in the United States, which has strengthened speculation. The US Federal Reserve may reduce the pace of interest rate hikes
Spot gold contracts were up 0.7% to 1766.26, or $1770 an ounce, after posting their highest level since August 18 at the start of the session, and US gold contracts were up by 0.9%, to $1769.40 an ounce, and reached The yellow metal gained 5.5% this week and gold hit its highest level since August, bringing an ounce close to $1,800 .
Consumer price inflation data showed a lower-than-expected rise in October, printing below 8% for the first time in 8 months, and markets now expect a 71.5% probability that the Fed will hike rates interest by around 50 basis points over the next few months December 2022 meeting.
