gold price
Suhaila Kandil
Gold prices varied in the local market today, Wednesday, between the one ounce drop on the world stock exchange near the $ 1706 level, following the relative rise in the US dollar, and the wave of decline during yesterday’s trading. , with investors awaiting the release of US economic data later in the day, to get some insight into the US Federal Reserve’s upcoming monetary policy decisions.
For his part, Saeed Imbabi, Executive Director of the “i-Sagha” platform for trading gold and jewelry online, said that gold prices in local markets fell by 15 pounds, to register a gram of gold at 21 carat of about 1081 pounds, while the price of one gram of 24-karat gold ranged from about 1236 pounds and one gram of 21-karat gold recorded about 1081 pounds. 18-karat gold recorded 927 pounds and 14-karat gold followed it at a level of 721 pounds and the gold pound reached 8648 pounds.
Imbabi explained that gold prices fell by 9 pounds during trading yesterday, Tuesday, when a gram of 21-karat gold opened trading at the 1105 pound level and concluded trades at the 1096 pound level, and the ‘ounce opened trading at the $ 1708 level, and touched the $ 1726 level, and transactions closed at the $ 1,723 level.
And US employment data released Tuesday showed a decline in the employment rate and a weak labor market as the US Federal Reserve continued to raise interest rates over the course of five meetings, until it hit around 3.25%, in order to reduce the increase in inflation rates, which led to renewed fears of economic recession, and prompted investors to Demand for gold as a safe haven to protect themselves from economic fluctuations.
