Written by Islam Saeed Tuesday, December 26, 2023 05:31 PM We publish the latest update in gold prices In Egypt, in evening trading today, Tuesday, December 26, 2023, after an increase of about 130 pounds, a gram of 21 carat gold, which is the best-selling gold in Egypt, recorded 3,330 pounds, amid a great demand for buying gold in Egypt.
Gold prices today
24 karat records 3806 pounds.
21 carat costs 3330 pounds.
18 karat weighs 2854 pounds.
14 karat weighs 2220 pounds.
The gold pound is 26,640 pounds.
Gold prices on the global stock market
Global gold prices rose with the return of trading after the Christmas holiday. Gold prices rose despite weak trading volumes and exited the trading range that dominated gold movements during most of December, in light of expectations of an early interest rate cut in the United States of America.
Spot gold recorded an increase during today’s session, Tuesday, by 0.4%, to trade at the time of writing the Gold Billion technical report at the level of $2061 per ounce, recording the highest level today at $2065 per ounce. This comes after it recorded its highest levels in two weeks last Friday at $2070 per ounce.
Gold witnessed a series of gains after the weak data issued by the United States of America regarding the contraction of third-quarter growth less than expected, in addition to the slowdown in inflation rates, which increased the markets’ expectations of the approaching decision to cut interest rates during the year 2024.
The Personal Consumption Expenditure Index, which is the preferred inflation indicator of the US Federal Reserve, showed a decline during the month of November to 2.6% from the previous reading of 2.9% at the annual level, while the annual core index, which excludes fluctuation factors, showed a decline to 3.2% from 3.4%.
This decline in inflation came after cautious signals from the Federal Reserve during its last meeting of 2023, raising hopes that the Fed could start cutting interest rates by March 2024.
2023-12-26 15:31:00
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