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Gold prices fell 20 pounds due to the global drop, and 21 karat records 813 pounds

Gold prices witnessed, in the evening transactions today, Friday in Egypt, a significant decline of 20 pounds, where the 21-carat, which is the best-selling in Egypt, recorded 813 pounds per gram compared to 833 pounds per gram, after gold fell globally from 1912 dollars to 1844 dollars until the formulation of these lines to lose An ounce is more than 3%.

Gold prices today in Egypt …

Caliber 18: 795 pounds

Caliber 21: 813 pounds

Caliber 24: 928 pounds

Gold pound: 6504 pounds

World price: $ 1844.

Reasons for the decline in gold

Gold’s descent accelerated below the $ 1900 barrier on Friday, losing around 3%, which drove other precious metals to fall, as a jump in US Treasury bond yields undermined gold’s appeal as a safe haven.

And gold fell in immediate transactions to 1849.55 dollars an ounce, and in recent trading it was down 2.8 percent to 1858.89 dollars an ounce. It lost 1.8 percent in the first trading week of the year, and US gold futures fell 2.8 percent to $ 1859.2.

“For many investors, gold is undergoing a major fundamental shift and are beginning to abandon their treatment of gold as a safe haven,” said Edward Moya, senior market analyst at Oanda.

The Democrats ’control of the US Senate fueled bets on massive stimulus measures, pushing the yield on record ten-year bonds to their highest levels since March.

The decline of gold spread to other precious metals, as silver fell 4.9 percent to $ 25.78 an ounce, after a decline of up to 5.4 percent, and is on its way to record its first loss in four weeks.

Palladium fell 1.6% to $ 2,381.6, marking its worst weekly performance since early December. Platinum lost 3.3 percent, to record $ 1080.35, after a 4.6 percent decline earlier in the session.

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