The price of gold in evening transactions recorded today, Tuesday 21-7-2020 in Egypt, a new rise of 4 pounds, to register 21 caliber, which is the best-selling in Egypt, 816 pounds for grams for the first time in the history of the precious metal in Egypt, the highest price recorded by gold in its history, against the background A significant increase in international prices to achieve an ounce of $ 1841, the highest price of gold in 9 years.
The total rise in gold prices today reached 8 pounds per gram, which is a scenario that has been expected since the beginning of 2020, as gold has registered at a local and global level, an increase of approximately 15%..
Gold prices today
Caliber 18: 700 pounds per gram
Caliber 21: 816 pounds
Caliber 24: 932.50 pounds
The gold pound: 6520 pounds
World price: 1841 dollars
Gold prices jumped during trading, today, to their highest levels in about 9 years, while silver recorded the highest level in 4 years, due to the high incidence of cases of the emerging corona virus.
The large increase in the number of cases of Covid-19, and the growth of hopes for more stimulus measures, have increased the demand for safe investment havens.
“The stimulus is what drives the gold market and we will get more of it,” said Stephen Ines, head of market strategies for Axi Corp. Financial Services. It is the gravitational factor that is driving sentiment up today“.
Gold tends to benefit from widespread stimulus, as the yellow metal is generally considered a hedge in the face of higher prices and lower currencies. But analysts are divided over inflation expectations.
The leaders of the European Union reached an agreement on a huge stimulus plan for their economies that were affected by the Corona virus after a difficult summit that extended overnight and into its fifth day..
Also in the United States, Republicans in Congress have announced plans to request an additional $ 1 trillion in economic aid. Aside from stimulus, the growing hopes for Covid-19 vaccines boost risky assets, limiting the advance of gold..
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