Sunday, November 19, 2023 at 02:00 AM
Youm7 TV aired special shows on trends in gold prices that witnessed fluctuations, ups and downs in gold prices in Egypt today, Saturday, with 21 carat gold per gram recorded. It is most popular in Egypt, at 2715 pounds per gram, the stock market closed. The global trend rose 2.2% this week, registering $1,980 per ounce.
Coverage reviewed gold posted its biggest weekly gain in four weeks last week amid rising expectations that the Federal Reserve has finished tightening its monetary policy, in light of dollar levels and falling U.S. Treasury yields..
Sameh Abdel Hakim, a member of the Chamber of Commerce’s gold section, said during a phone interview with Coverage that local prices are linked to international prices and that gold prices have risen by around $160 globally in less than a month. So there is a significant increase globally, the price of gold is influenced by the price of the currency in the parallel market.
He continued, “There will be other consecutive highs in gold before the end of the year, and the Gaza events have also contributed to this price rise.”
Spot gold rose 2.2% last week to gain $42. It hit a weekly high of $1,993 an ounce, marking the first week of gains after two weeks of losses..
