Today, Sunday morning, gold quotations recorded a modest decline of around £5, and one gram of 21-karat gold, which is Egypt’s best-selling today, registered £1445 per gram with no industrial additions, after a significant increase in recent days due to the tendency of consumers and capital holders to hedge against a decline in currencies.
Gold prices today:
18 karat registered 1239 pounds.
21 carat registered 1445 pounds.
24 carats, a record 1651 pounds.
The gold pound is £11,560.
The total increase in gold prices at the end of last week reached 160 pounds in the Egyptian market due to high demand for gold in the market and falling supply.
The minutes of the recent Federal Reserve meeting revealed that most bank officials supported the issue of slowing rate hikes soon, and by the end of trading, gold futures for December delivery were up about $5.70, or 0.3%, to $1,745.60 an ounce.
The yellow metal was supported by the weakness of the US dollar, which fell by 0.9%, which helps to increase the attractiveness of gold for holders of other currencies.
