Gold prices fell today, Thursday, by 3 pounds, against the backdrop of a drop in the price of the precious metal globally by 10 dollars, to an ounce of gold 1944 dollars.
The gram of 21 carat gold, which is the best selling in Egypt, fell to 870 pounds per gram, with a noticeable decline in sales of the precious metal in Egypt continuing.
Gold prices today..
Caliber 18 recorded 745 pounds
Caliber 21 recorded 870 pounds
Caliber 24 recorded 994 pounds
The gold pound is 6960 pounds
An ounce of gold is 1944 dollars.
The price of gold went down today, Thursday, after the Federal Reserve pledged to support the economy hit by the Corona virus, which supported risk appetite, while analysts said the yellow metal was facing short-term resistance to penetration of the psychological level of two thousand dollars.
And gold fell in the spot transactions 0.7% to $ 1957.17 an ounce by 0531 GMT. Gold in US futures fell 0.1 percent to $ 1950.60.
Gold jumped on Wednesday after the US central bank pledged to keep interest rates near zero at a time when the rapid rise of coronavirus infections dampened hopes for an economic recovery.
Lower interest rates reduce the opportunity cost of buying the non-yielding metal, and the gold advance was curbed by the rise of Asian stocks that followed the Wall Street rally.
Analysts point out that gold has risen more than 28 percent since the beginning of the year and is well supported by the dollar’s decline, the pandemic worsening and the possibility of further stimulus.
For other precious metals, silver fell 2.1 percent to $ 23.90 an ounce, platinum fell 0.3 percent to $ 921.76 and palladium fell 1.6 percent to $ 2122.44.
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