Gold prices stabilized in morning trading on Monday after a significant increase yesterday by around £70, to record prices of £1730 per gram of 21-carat which is Egypt’s best-selling without adding labor , with continued strong demand for gold in the Egyptian market.
Gold prices today:
18 carats registered 1483 pounds.
21 carat registered 1730 pounds.
And 24 carats registered 1977 pounds.
And the gold pound is £13,840.
Globally, gold prices posted the biggest one-day gains in more than two years, clearing the round $1,800 mark, as US Federal Reserve Chairman Jerome Powell’s comments on Wednesday hinted at a slower path. aggressive to raise interest rates in the central bank’s fight against inflation.
OANDA chief market analyst Edward Moya said financial markets had to raise expectations of a rate hike from the US Federal Reserve after a pay hike in November.
“However, gold has seen a slight rally since early November, and a sharp pullback doesn’t seem warranted as the economy slows down and inflation is expected to decline steadily here,” he added.
It justifies a temporary pause in interest rate hikes by the US Federal Reserve after the first quarter.
