Islam Saeed wrote
Sunday, December 3, 2023 01:30 PM
Witness gold prices Noticeable stability at the level of 2800 pounds per gram of 21 carat, which is the best-selling product in Egypt, while the global price recorded stability and stabilization at $2072 per ounce, coinciding with the weekly holiday of the global stock market and the cessation of trading in gold.
Gold prices today:
24 karat records 3200 pounds.
21 carat costs 2800 pounds.
18 karat weighs 2400 pounds.
The gold pound is 22,400 pounds.
Central banks’ demand for gold
Central banks around the world continue the high demand for gold during the year 2023, as World Gold Council reports revealed gold trends during the third quarter, and showed an increase in demand for gold by central banks by 337 tons, which is the third largest purchase level during a quarter in World Gold Council data. , but it is less than bank purchases in the third quarter of 2022, when it was worth 459 tons.
Since the beginning of the year, demand from central banks has increased by more than 14% compared to the same period last year, reaching a new record level of 800 tons of gold.
Gold reserves announced by global central banks rose by a net 77 tons of gold during the month of September, as banks’ total sales amounted to only 1 ton compared to purchases of 78 tons, which indicates the strength of central banks’ purchases of gold.
The World Gold Council showed that financial flows continued to exit gold investment funds during the month of October, but at a slower pace than in September, recording outflows of $2 billion in October, which is the fifth monthly loss in a row.
Since the beginning of the year, the funds’ investment holdings have decreased by 6%, while the total valuation of assets managed by the funds has increased by 3% due to the rise in the price of gold. The total cash outflows from global investment funds backed by gold have reached 13 billion US dollars since the beginning of the year. Equivalent to a decrease of 225 tons of gold
2023-12-03 11:30:00
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