Gold prices in Egypt, today afternoon, Wednesday, May 27, recorded a new decline of 5 pounds, bringing the total gold decline since this morning 7 pounds, following the price drop in the morning at a value of two pounds, in light of the continued closure of gold stores until Saturday May 30.
Gold prices after falling ..
Caliber 18 record 642.75 pounds
Caliber 21 record 750 pounds
Caliber 24 record 857.25 pounds
The gold pound is 6000 pounds
An ounce of gold is $ 1,695.
The US dollar rose on Wednesday, as the Chinese yuan fell to its lowest level in nearly nine months after increasing caution in foreign exchange markets due to fears of the US response to a security law proposed by China for Hong Kong, according to Routers.
The dollar fell sharply on Tuesday, as a strong risk appetite encouraged investors to take on high-risk currencies, and some investors are betting a quick resumption of economic activity in the wake of the outbreak of the Corona virus, but others have expressed concern that the imposition of US sanctions on China because of its dealings with Hong Kong Risk sentiment deteriorated again.
Gold hit its lowest level in 4 weeks today, Wednesday, due to optimism about the reopening of several economies, but the escalation of Sino-American differences over a security law proposed by Beijing for Hong Kong to curb losses.
Hany Gayed, head of the precious metals division at the Chamber of Commerce, said that gold prices since the beginning of this year are recording great increases, as a result of the events in the Middle East and the escalation of an American-Iranian in Iraq, and then the emergence of the Corona virus, which raised the demand for the precious metal in a large way globally, the matter Which led to higher prices by more than 10%, which negatively affected the volume of gold sales in Egypt.
He added well to “the seventh day”, that the continued decline in demand for gold leads to a decline in prices in Egypt, but in a significant or significant way, pointing out that it is not possible to expect what the precious metal market will witness in the world.
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