Gold prices declined in evening dealings by 5 pounds, after a significant increase witnessed by the precious metal by 15 pounds per gram in morning trading, after the rise of an ounce of gold to the highest levels in nearly 7 years, reaching an ounce to 1579 dollars, but it fell to 1563 dollars due to the direction of investors Take profit.
And the price of gold after its fall became as follows:
Caliber 18 recorded today evening 600 pounds per gram
Caliber 21 recorded today evening 700 pounds per gram
Caliber 24 recorded today evening 800 pounds per gram
The gold pound is 5600 pounds
An ounce of gold is $ 1563
In turn, Dr. Wasfi Amin, head of the General Division of Gold, said that gold prices worldwide recorded their highest levels thanks to the turmoil between America and Iran and the burning of the Middle East region, pointing out that the yellow metal achieved its best performance in about ten years, and the ounce recorded great increases with military tension and assassination Iranian leader, which indicates the continued rise of gold.
He said to “the seventh day”, that 2020 is the year of the rise of gold to continue the wave of rise witnessed by the precious metal last year, as it gained 19% during 2019, which is its largest gain since 2010, mainly driven by the war of customs duties between the United States and China, Which launched a process of monetary easing by major central banks, but the current period and with the continued escalation in the Middle East, the rise in gold is not predictable for the period of its continuity.
On the reasons for buying gold, Anton sees gold as a safe investment alternative in times of political and financial uncertainty, pointing out that the state of investors awaits global developments, both regarding the truce agreement between the United States of America and China, which are the two largest economies in the world, as well as the situations in the Middle East, pointing to That the reason for the decline in prices is the trend of investors to take profits
With regard to the movement of gold ounces during the current week, Ihab Wasef, deputy head of the gold division in the Chamber of Commerce, stressed that speculation about any future price of gold is impossible, especially since the price of gold is linked to several other factors that change very quickly, including currency rates in global markets, It is also linked to data and indicators of the economy in countries with major economies, and is linked to supply and demand factors not for small consumers, and is linked to investor demand, in addition to being affected by any global event.
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