Today, Saturday, September 4, 2021, the price of gold in Egypt fell significantly, despite the stability of global prices due to the weekend markets.
Today and tomorrow is the weekly holiday in the precious metal markets, and the holiday comes after the global rise in gold prices on Friday weekend.
The price of a gram of 24 carat gold in Egypt fell to 905.25 pounds from 915.83 pounds yesterday.
The price of a gram of 21 carat gold in Egypt (the most traded in the market) fell by 792 pounds compared to 801.37 pounds yesterday.
The price of a gram of 18 carat gold in Egypt fell by 678.75 pounds compared to 686.88 pounds yesterday.
In terms of economic gold in Egypt, the price of 14 grams of gold is about 528 pounds, and the price of a gram of 12 carat gold is about 452.5 pounds.
Price of gold per ounce and pound
The price of an ounce in Egypt was recorded at about $ 1828.
The price of a pound of gold in Egypt (21 carat 8 grams) fell to 6336 pounds compared to 6411 pounds yesterday.
Global gold prices
Globally, the price of gold rose on Friday (the end of the week trading) due to the weakness of the dollar.
And gold spot transactions rose 0.2% to $ 1812.97 an ounce (one ounce) at 0641 GMT, down 0.2% during the week.
U.S. gold futures also rose 0.2% to $ 1814.80.
The dollar index is down a month, which has strengthened the attractiveness of gold to holders of other currencies.
“We see the pre-emption of individuals who want to take advantage of the NFP,” said Stephen Innes, managing partner at SBI Asset Management.
Although gold is considered a protector against inflation and monetary instability by unprecedented stimulus measures, it lowers the opportunity cost of holding a yellow metal that does not yield low interest rates.
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