We are releasing the latest gold price update today, Thursday 6 October 2022, as prices register remarkable stability and the price of one gram of 21-karat gold, which is the best-selling in Egypt, reached £ 1080 without adding manpower. , and this price could see significant changes in the next few hours as gold continues to trade in Egypt.
Gold prices today:
18 carat records 926 lbs.
The 21 gauge records 1080 lbs.
24 karat records 1235 lbs.
The gold pound is 8640 pounds
Globally, gold prices rose during trading today, Thursday, to coincide with weak dollar and US Treasury yields as investors await the monthly employment report that could influence the strategy. Federal Reserve interest rate hike.
In a speech at Northwestern University, Rafael Bostik, president of the Federal Reserve Bank of Atlanta, called for the interest rate to be raised between 4% and 4.5% by the end of this year, in order to reach a point. where monetary policy is moderately restrictive before stopping to monitor how the economy and prices interact.
Despite recession fears, Goldman Sachs raised its US growth forecast in a research note, forecasting third-quarter GDP growth of 1.9%, up from 0.9% previously forecast.
As for the US data, the weekly data on unemployment claims is expected to be released later today, with the focus then on the employment report for September, which is expected to be released on Friday.
Reasons for the drop in the price of gold
The general division of gold and jewelry has announced an increase in the volume of gold supply in the local market, which is reflected in the prices in the markets, and a noticeable drop in gold which loses 33 pounds per gram, so the price is rose 22 pounds, then gold fell 15 pounds in yesterday’s trading.
Gold prices rose globally to surpass one-ounce gold levels of $ 1705 after dropping to $ 1660, posting weekly gains, as it ignored inflation concerns in Europe and the US. coinciding with the losses of the American stock market.
