“Gold prices decline for the third consecutive week: Analysis and future forecast”

Books – Islam Saeed

Saturday, May 27, 2023 05:00 PM

Youm7 TV provided special coverage on developments in gold prices in Egypt and the global stock exchange and market expectations and trends in the coming period. about the future of interest rates.

concluded gold prices Global trading last week declined for the third week in a row, in light of a change in the trends of gold markets in the short term after closing below the support level of $1950 an ounce, in light of a recovery in dollar levels supported by economic data.

Spot gold prices declined over the past week by 1.6% to lose more than $30, and gold closes its trading at $1946 an ounce, below the important support level at $1950 an ounce, while it recorded its lowest level in 9 weeks at $1936 an ounce.

Since gold recorded its highest historical level at the beginning of this month at $2,080 an ounce, it has lost more than $130, down by 6.4%, in light of changing market expectations for US interest rates, in addition to the recovery in dollar levels, according to Gold Billion technical analysis.