Gold bullion price

Islam Saeed Books

Wed, May 17, 2023 11:19 AM

21 karat records 2250 pounds.

18 karat records 1929 pounds.

The gold pound is 18,000 pounds.

The global price of gold

Gold returned to decline during trading today, Wednesday, after weak gains. This decline comes in light of statements by a number of members of the Federal Reserve that reduced the chances of cutting interest rates this year, in addition to tensions over the US debt crisis, according to Gold Billion.

Spot gold prices fell today, below $2,000, to record $1,990 an ounce at the time of writing these lines.

A number of members of the Federal Reserve commented on monetary policy conditions, and greatly reduced the chances of cutting interest rates this year, which reduces support for gold prices, and members of the Bank also indicated uncertainty about whether the Federal Reserve will temporarily stop raising interest rates at the June meeting. Next.

Fed member Neel Kashkari, President of the Federal Reserve Bank of Minneapolis stated that we should not be fooled by the soft inflation data over some recent months because inflation is still well above the bank’s target of 2%, and the bank needs to finish its job.

And Thomas Barkin, a member of the US Federal Reserve in Richmond, stressed that if the rate of inflation continues to accelerate, we could see new increases in interest rates.

It is reported that Fed Fund futures prices are pricing in a 79.9% chance that the Fed will stop raising interest rates in June. This probability has decreased from a high of 90% at the beginning of last week.

The technical report indicated that the possibility of higher US interest rates is negative for non-return assets such as gold, as it increases the opportunity cost of owning gold. On the other hand, fears of a US recession and a possible banking collapse are expected to support safe-haven demand for the precious metal.

Books – Islam Saeed

Saturday, May 13, 2023 02:39 PM

I backed off gold prices In Egypt today, Saturday, May 13, 2023, 40 pounds, after a drop of 130 pounds over the past three days, and all bullets recorded a noticeable drop at the time these prices were published.

Since the issuance of the Cabinet’s decision to exempt gold imports in semi-worked forms, as well as those intended for monetary circulation, jewelry, jewelry and their parts of precious metals, gold prices in the Egyptian market have witnessed continuous declines, and the total drop in gold in goldsmiths reached 170 pounds until the time of writing these lines.

The price of a gram of 21 carat gold, which is the most traded in the markets, witnessed a decline from 2550 to levels of 2380 pounds per gram, amid expectations of a further decline with the regular entry of gold with returnees from abroad after the abolition of all customs duties with the exception of value-added tax.

Gold prices today

24 karat records 2720 pounds

21 karat records 2380 pounds

18 karat records 2040 pounds

The gold pound is 19040 pounds

Gold ounce 2013 dollars

The decision to exempt gold

The Cabinet’s draft decision stipulates that this exemption does not apply to natural or cultured pearls, precious or semi-precious stones mounted or inlaid on jewelry and their parts..

This approval comes within the framework of the efforts exerted to achieve stability in gold prices within the markets, and to reduce customs smuggling attempts of semi-finished and occupied gold items through various customs outlets.