Significant increase .. Gold prices in Egypt today, Thursday, April 9 2020

Gold prices in Egypt witnessed a noticeable increase in trading today, Thursday, April 9, 2020, as the 21 best-selling caliber in the goldsmithing market increased by 7 pounds to 717 pounds per gram, which exacerbated the crisis of declining sales in the precious metal since the beginning of March 2020 , Due to the outbreak of the emerging coronavirus (Covid-19).

High gold prices

The rise in gold prices in Egypt comes in light of the rise of ounce globally and locally, in exchange for a sharp decline in demand for the yellow metal as a result of the trend of many people to buy food during the curfew days and fears of the impact of the Corona virus, as prices came in goldsmiths today as follows :

• Caliber 21 recorded 717 pounds per gram.
• Caliber 18 recorded 614.5 pounds per gram.
• Caliber 24 recorded 819.5 pounds per gram.
• The gold pound recorded 5736 pounds.
• An ounce of gold is $ 1663.

According to the Reuters news agency, gold prices rose in immediate transactions by about 0.6 to 1654.94 dollars an ounce by 0719 GMT, after reaching a peak of 4 weeks at 1671.40 dollars the day before yesterday, and rose by more than 2.3% since the beginning of the week, and contracts increased American gold futures 0.4% to $ 1691.70.

OPEC meeting

Jeffrey Haley, chief market analyst at Oanda, said that the yellow metal is backed by hedging inflows of risks ahead of a long weekend and effective night risks, while OPEC and its allies are meeting to make decisions on oil production cuts to support a market hit by the demand collapse from the Corona pandemic. .

As for other minerals, palladium rose 0.3% to 2181.46 dollars an ounce, while platinum gained 0.9% to 735.78 dollars an ounce, after rising to a 3-week high yesterday.

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