Home » Business » Gold Prices Today: Current Rates in Egypt and Global Rise – October 14, 2023

Gold Prices Today: Current Rates in Egypt and Global Rise – October 14, 2023

Books – Islam Saeed Saturday, October 14, 2023 01:49 PM

We publish Gold prices in Egypt Today, Saturday, October 14, 2023, in Egypt, a gram of 21 carat gold, which is the most traded in the Egyptian market, recorded 2,335 pounds per gram, amid a noticeable movement in demand for gold in the markets.

Gold prices today

21 caliber records 2335 pounds.

18 karat weighs 2001 pounds.

24 karat records 2696 pounds.

The gold pound is 18,680 pounds.

Gold rises globally

The sudden rise in gold by $100 per ounce last week, exceeding the psychological level of $1,900 per ounce, increases caution in the markets about the possibility of a strong correction in gold prices if the weekend passes without new developments in the Middle East crisis.

On the other hand, gold is currently facing the resistance level of $1,950 per ounce, which is a strong level that may push gold to decline, especially in light of the strong overbought saturation on the intraday technical indicators.

Also, the current period is witnessing investors holding gold, the dollar, and bonds as safe haven assets, but this cannot continue for a long time. In the end, investors will resort to abandoning one asset in favor of the other, and competition will be strong for gold, especially with the Federal Bank’s intention to keep interest rates high. For a longer period to confront stubborn inflation, according to Gold Billion’s analysis.

2023-10-14 10:49:00
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