—
Today, Sunday, February 2, 2020, gold prices witnessed a noticeable stability during the morning dealings in the local markets, as it recorded 21 caliber, which is the most selling in Egypt, about 698 pounds per gram, after the world price of an ounce of gold witnessed stability during the past hours, As this stability coincides with the weekly leave of the goldsmiths market.
Gold prices today in the Egyptian market
- Caliber 24: Record about 797.75 pounds per gram.
- Caliber 21: Record about 698 pounds per gram.
- 18 carat: scored about 598.25 pounds per gram.
- Gold Pound: Record about 5584 pounds.
- International price of an ounce: Record about 1588 dollars.
Demand for yellow metal fell globally in 2019
According to the World Gold Council, last Thursday, there has been a decline in demand for the yellow metal in the world in 2019, where sales exceeded the weakness of individual consumers who declined to buy because of the high prices, and large purchases occurred by central banks and investors, and the price increased Gold increased by 19% during the past year to record its highest level since 2013 with the decline in global economic growth, before declining at the end of the same year, after the convergence of views between China and America on the trade escalation between the two countries.
Expectations for demand trends have emerged on the yellow metal
For his part, Alistair Hoyt, head of the Market Information Unit at the World Gold Council, said that this movement is expected to continue during the current year, especially in light of the interest of the central banks and investors who are concerned about buying the yellow metal and the reluctance of individual consumers, pointing out that None of these factors is expected to dissipate in the coming period.
The World Gold Council stated, in the latest quarterly report of the trends in demand for the yellow metal, that global demand amounted to “4,355.7” tons last year, an estimated decrease of 1% compared to “4401” tons in 2018, as the year ended with a weak performance, because demand During the period between October and December, it reached “1045.2” tons, down 19%, compared to the same period in 2018.
— 
