Hani revealed a good head Gold DivisionThe decline in prices in the Egyptian market may increase the demand for gold during the current period, indicating that the decline in the precious metal in the local market came as a result of a global decline by the end of February 2021 by about 3.5% and this is due to higher revenues. US bonds.-
He added, in exclusive statements to “The Seventh Day,” that the return of global demand for the precious metal is expected with the big drop in prices, because investors tend to buy the precious metal with falling prices in order to speculate and make profits, so expectations indicate a move towards a rise in prices, even if in a way. Temporary until the effects of higher bond yields wear off.
He pointed out that the current trend of gold at the beginning of the March 2021 transactions towards an increase of 0.83%, pointing to the possibility of changing the course of gold trading globally due to the US stimulus plan that constantly affects the decisions of investors and investment funds.
He said that gold prices are currently affected by the rise in the US Treasury bond yields for 10 years to 1.6%, the highest level in a year, which caused the rise in the value of the US dollar against other major currencies, and this was reflected in gold trading.
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