Gold prices fell for the second time Monday evening, at the beginning of the week’s dealings in Egypt, at a value of 5 pounds, to reach 21 carat gold, which is the best-selling one in Egypt, 800 pounds, after an ounce of gold fell globally to $ 1837 until the report was formulated.
Gold prices today
Caliber 18: 685 pounds per gram
Caliber 21: 800 pounds
Caliber 24: 914 pounds
Gold pound: 6400 pounds
An ounce of gold is $ 1837
Since the beginning of this November, gold prices have witnessed a state of clear fluctuation globally between high and low, but since Monday, November 9, gold continues to decline very quickly, in conjunction with the announcement of the American company Fayez that it had reached a vaccine for the Corona virus, and this clearly affected the appetite for buying gold as a haven Safe, and the reason for this is gold falling nearly $ 120 before rising in a limited way to close last week at $ 1870, so what awaits the gold market next week, which begins on Monday, which is the beginning of the week’s trading.
The gold market is awaiting the results of events related to the rise in Coronavirus infections, after the announcement of a Corona virus vaccine caused a state of joy, while portending trouble for major technology companies, at a time when the shares of the leading companies rose, while the increase in the number of virus infection overwhelmed the progress achieved In the pollen, this comes with the decline of the US dollar at a time when gold has witnessed a decline, and here gold will continue to fluctuate until conditions stabilize.
The leaders of the European Union want to intensify preparations for Britain’s exit from the European Union without an agreement, amid fears of running out of time without reaching an agreement, and here these concerns may push gold to rise again, but all expectations confirm that gold is currently unable to break the current resistance point at 1900 dollars .
The World Gold Council revealed that, in August 2020, central banks sold more gold than they bought to end a year and a half of the monthly increase in gold purchases, which contributed to the halt of the rapid rise in the price of the yellow metal, and gold rose from just above $ 1500 at the beginning of 2019 to a record level At $ 2,072.50 in early August, then down to about $ 1900, investors in Europe and North America pushed prices up and collected gold in the hope that it would retain its value during the Corona crisis.
The Gold Council added that central banks, totaling 35 thousand tons of gold worth about two trillion dollars, sold 12.3 tons more than they bought in August, and central banks bought 656 tons of gold in 2018, the highest number in half a century. Last year, purchases amounted to 650 tons.