Gold bullion price

Islam Saeed Books

Wednesday, April 19, 2023 12:13 PM

18 karat records 2057 pounds.

24 karat records 2743 pounds.

The gold pound is 19,200 pounds.

Gold ounce 2004 dollars.

The current gold prices, which rose to levels of 2400 pounds for 21 karat, and the rise of 24 karat to 2743 pounds, are considered exaggerated and completely illogical, and the rise in demand does not push prices to these unprecedented levels in Egypt, according to Gold Billion.

Gold Billion indicated that gold is like any commodity in the event of high demand, its prices move, but what the gold market is witnessing now is confusion in pricing and unrealistic exaggeration in pricing gold and moving prices in an instantaneous manner, even with the decline in the global price of an ounce.

He explained that the market will not continue in this randomness, and the price will correct during the next few days, with the government’s tendency to carry out economic reforms and work to accelerate the government’s offering program for 32 companies, which will provide dollar liquidity that may contribute to calming the markets.

The technical report of Gold Billion indicated that global gold prices fell from the highest level in 13 years at $ 2048.76 an ounce, which was recorded during the past week, by $ 45 due to the recovery of the dollar since the end of last week, after gold witnessed the strongest wave of buying in four weeks since mid-2019. .

Books – Islam Saeed

Saturday, April 15, 2023 01:31 PM

registered Gold prices today, Saturday A decrease of about 15 pounds per gram, to reach 21 carat, which is the most traded in Egypt, 2270 pounds, after the drop in the price of an ounce of gold on the global stock market by about $ 50, to record an ounce of 2004 dollars at the end of the week.

Gold prices today:

21 karat records 2270 pounds.

18 karat records 1946 pounds.

24 karat records 2594 pounds.

The gold pound is 18,160 pounds.

Gold ounce 2004 dollars.

Gold bullion prices today

The price of a gold ingot weighing 2.5 grams recorded 6485 pounds per gram, and the price of a gold ingot weighing 5 grams reached 12970 pounds, and the price of a gold ingot weighing 10 grams reached 25940 pounds, and the price of a gold ingot weighing 20 grams reached 51880 pounds, and the price of an ounce of gold weighing 31.1 grams reached 80673 pounds, and these prices do not include workmanship and tax.

global gold market

Gold ended the week’s trading with a big movement in the global markets, after recording the highest level in 13 months on Thursday, gold gave up all its gains on Friday, after the dollar recovered and the Fed member indicated the need to raise interest again, according to the Gold Billion report, and spot gold prices fell. Yesterday, Friday, by 1.8%, to lose nearly 40 dollars, as gold prices fell by more than 2% during the session, to give up all of their weekly gains, to witness yesterday the largest daily loss of gold in three weeks.

The technical report of Gold Billion revealed that gold prices increased by 0.7% during the week, on the other hand, the dollar index, which measures its performance against a basket of 6 major currencies, rebounded from its lowest level in a year and recorded on Friday an increase of 0.6% after hitting its lowest level at 100.45. On the weekly level, the dollar index recorded a decline of 0.5%, marking a decline for the seventh week in a row.

The main reason behind the recovery of the dollar and the decline in gold prices were the statements of Federal Reserve member Christopher Waller, who is one of the biggest supporters of tightening monetary policy, and who said that he wants more monetary tightening that should last longer than market expectations, and these statements come despite the inflation data that was issued during The week ending showed a decline in consumer prices, as the annual consumer price index showed a decline at the annual level to 5% in March from 6%, and the producer price index fell to 2.7% from 4.9%.

Despite the decline in inflation figures, the core or core inflation index, which excludes the prices of volatile commodities such as fuel and food, witnessed a slight decline, so that the core consumer price index recorded an increase of 5.6% in March from 5.5% in March. Several members of the Bank pointed out to him that the Fed should focus on fighting core inflation.

Islam Saeed Books

Monday, April 10, 2023 12:00 AM

Gold in Egypt entered a negative correction this week, retreating from a historical peak, and this correction came with a decline in prices to coincide with global gold prices, which recorded the highest level per ounce in a year, then fell to $2007 per ounce as a weekly closing price, as well as prices calmed down partially to offer bank certificates that were withdrawn Part of the liquidity of the gold market.

A technical report by gold bullion indicated that the tensions and uncertainty related to the local markets caused gold prices to rise to record levels during the past week, but some measures related to banks worked to calm the gold markets slightly, such as issuing certificates in more than one bank, led by government banks with a return. 19 and 22%

The technical report indicated that the price of a gram of 21 carat gold, the most common, in conjunction with the weekly closing of the market, recorded 2160 pounds per gram, down by 2.0% from last week’s opening price of 2210 pounds per gram, while gold prices during the week recorded the highest level ever at 2260 pounds per gram.

The report confirmed that the tendency of the National Bank of Egypt and Banque Misr to offer two new savings certificates after the decision to raise interest by the Central Bank of Egypt, as the return on the first certificate reached 19% with a fixed return spent monthly, and the return on the second certificate decreased by 22% and the two certificates with a term of 3 years, contributed strongly. In calming the gold market, limiting demand in part, and withdrawing some of the liquidity that was heading towards buying gold after the end of the 18% certificate.

Interest rates, after the Central Bank’s recent decision to raise the interest rate by 200 basis points on overnight deposits, reached 18.25%, and the lending interest rate increased by 19.25%, while the main interest rate reached 18.75%. This is the highest level since July 2017.

The report indicated that gold prices were affected and fell after the announcement of the new certificates, and a large part of the cash was transferred to investment in savings certificates, but the amount of decline in gold prices is weak compared to the amount of increase recorded in gold prices during the month of March by 32%, at a value of approximately 540 pounds.

The report revealed that this week witnessed profit-taking sales that pushed gold prices to a slight negative correction, but prices continued to hold largely because gold plays a major role in the markets now, as it is a hedge against inflation that exceeded 30% levels during February, and is also a safe haven against fears The change in the exchange rate, which would push inflation to rise again, and therefore the effect of the transfer of cash liquidity to savings certificates remains weak on investment in gold.