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Gold Prices in Egypt Today: Tuesday, August 15, 2023

Islam Saeed wrote Tuesday, August 15, 2023 01:30 PM

We publish gold prices in Egypt today, Tuesday, which records 2250 pounds per gram of 21 karat, which is the best-selling in Egypt in morning trading, amid the return of momentum and activists to the gold market.

Gold prices in Egypt today:

24 karat records 2571 pounds.

21 karat records 2250 pounds.

18 karat records 1929 pounds.

The gold pound is 18,000 pounds.

The global price of gold

Global gold prices declined today to trade near the lowest level recorded yesterday, in light of the recovery of the US dollar and its benefit from the high yield on government bonds, while the markets are looking forward today to US retail sales data that may shed light on the impact of higher interest rates on consumer spending.

Gold prices are trading at the time of writing the technical report of Gold Billion at the level of $1903 an ounce, down by 0.2%, after it fell yesterday and recorded the lowest level in a month and a half at $1902 an ounce. Thus, gold prices decreased since the beginning of August by 3.2%, losing $62.

Gold prices are trading at a strong support level at $1,900 an ounce, and negative pressures remain on gold, but gold may witness a positive correction if it fails to break the aforementioned support level.

The rise of the US dollar was one of the main reasons behind pushing gold further downward. The dollar index, which measures its performance against a basket of 6 major currencies, rose since the beginning of August by 1.3%, as it recorded yesterday its highest level in more than two months, according to Gold Billion.

The US dollar is attracting many current investments in the financial markets, due to the fears in the markets, which prompted the dollar to play the role of a safe haven, especially as it enjoys the support of high bond yields at the expense of high interest levels.

2023-08-15 10:30:00
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