Gold prices in Egypt today 21 carat is close to 800 pounds

Gold prices rose in Egypt during morning trading today, Thursday, in conjunction with the rise in global gold prices.

Gold prices in Egypt are linked to global stock exchanges, and prices differ according to regions and types of caliber, and the gold industry also differs from one trader to another, with workmanship ranging from 30 to 60 pounds.

The price of a gram of 24 carat gold in Egypt in morning trading was about 900.23 pounds, compared to about 891.50 pounds during Wednesday’s trading.

The price of a gram of 21 carat gold in Egypt (the most traded in the Egyptian market) was 787.72 pounds, compared to 780 pounds.

The price of a gram of 18 carat gold in Egypt was 675.18 pounds, compared to 668.50 pounds, during Wednesday’s trading.

The price of a gram of 14 carat gold in Egypt was 525.14 pounds, while the price of a gram of 12 carat gold in Egypt was 450.11 pounds.

The price of an ounce and a pound of gold

The price of an ounce in Egypt recorded 1785 dollars, while the price of the gold pound in Egypt (8 grams of 21 carat) was 6302 pounds.

Globally, gold prices rebounded today, Thursday, to finally break the lowest level in two and a half months, which they reached in the previous session. The attractiveness of the yellow metal, which does not yield a return, has increased due to the decline in US Treasury yields.

Gold prices today

The price of gold in spot transactions rose 0.4% to 1782.81 dollars an ounce by 0706 GMT, after falling to its lowest level since November 30 at 1768.60 dollars on Wednesday.

US gold futures advanced 0.5% to $ 1780.80.

“The fall in long-term US yields from their high levels provides some support. It also appears that the big buyers from China are returning from the Lunar New Year holidays,” said Jeffrey Haley, senior market analyst at Oanda.

He continued: “In the bigger picture, gold simply captures breaths. $ 1760 is still an important level. Going below that indicates greater losses in the area of ​​$ 1600 and $ 1650.”

The yield on the US 10-year Treasury has fallen from its highest level in nearly a year, which it reached on Wednesday.

Lower yields reduce the opportunity cost of holding gold that does not yield a return.

The minutes of the US Federal Reserve meeting for February showed that US central bank officials were still prepared to keep monetary policy soft to help the economy hit by the Coronavirus pandemic.

Investors are still focused on developments in the $ 1.9 trillion US stimulus package.

US retail sales rebounded in January, while US producers raised prices by the most since 2009, indicating that inflation is starting to rise.

As for the other precious metals, silver fell 0.5% to $ 27.22 an ounce, platinum gained 0.9% to $ 1263.91, and palladium fell 0.1% to $ 2369.89.
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