Gold bullion prices

Written by Islam Saeed Sunday, January 7, 2024 07:00 PM We publish gold prices In Egypt, in evening trading today, Sunday, the price of gold recorded 3,330 pounds per gram of 21 karat, which is the best-selling in Egypt, amid continuous changes in gold prices 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 26,840 pounds.

Gold for the last two years

Over the past two years, gold has proven to be the best investment and the best way to preserve the value of the currency. In 2022, the price of 21-karat gold rose by 852 pounds per gram, an increase of 106.7%. In 2023, gold rose by 1,480 pounds per gram, an increase of 87.5%.

Gold bullion manufacturers

Companies producing gold bullion in Egypt are moving to re-price gold bullion manufacturing for the year 2024, as companies are currently reviewing the increase in bullion production costs, provided that the bullion manufacturing prices for the current year will be announced in the coming days, according to what a source in the Precious Metals Industry Division stated.

Manufacturers of gold bullion vary according to the weight of the bullion. Manufacturers of gold bullion in Egypt increase as the weight of the bullion decreases. Manufacturers of a one-gram gold bullion may reach 75 pounds for consumers, while the manufacturers of a gold bullion weighing one kilo may be only 27 pounds.

As for the new prices for gold bullion manufactures, their statement is as follows: the manufacturing prices of a 1-gram gold bullion reach 75 pounds, the manufacturing prices of a 2.5-gram gold bullion record 67 pounds per gram, the manufacturing price of a 5-gram alloy recording 65 pounds, the manufacturing price of a 10-gram bullion 66 pounds per gram, and the manufacturing price of a 20-gram alloy. It is recorded at 64 pounds per gram, the workmanship of an ounce bar is 31.10, it is recorded at 62 pounds per gram, the workmanship of a 50-gram bar is recorded at 60 pounds per gram, the workmanship of a 100-gram bar is 59 per gram, and the workmanship of a 250-gram bar is recorded at 30.70 pounds.

2024-01-07 17:00:00
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Gold prices in Egypt rose today, Tuesday, at the beginning of trading, by about 15 pounds, and a gram of 21 karat gold, which is the best-selling gold in Egypt today, recorded 3,235 pounds per gram, compared to 3,220 pounds, amid continuous changes in gold prices today.

Gold prices today:

24 karat records 3697 pounds.

21 caliber costs 3235 pounds.

18 karat weighs 2773 pounds.

14 karat weighs 2157 pounds.

The gold pound is 25,880 pounds.

Gold prices on the global stock market

Gold began the first trading session of 2024 on an upward note after achieving significant gains during the last three weeks of last year. This comes before the release of the minutes of the Federal Reserve meeting and the government jobs report on the United States this week.

Spot gold opened trading today, Tuesday, at the level of $2062 per ounce, recording the highest level at $2078 per ounce, up by 0.8%, to trade at the time of writing the Gold Bellion technical report at the level of $2075 per ounce.

The markets’ focus is now turning to the minutes of the Federal Reserve meeting issued this week in an attempt to learn more signals and clarification about the future of US interest rates. The Federal Reserve, in its last meeting last December, indicated the end of the cycle of raising interest rates.

Fed members’ expectations indicated a rate cut during 2024 by 75 basis points, while the markets believe that the bank will cut rates further and begin early this year, specifically next March.

Market expectations now indicate a 70% expectation that the bank will cut rates by 25 basis points at the next March meeting. The total interest rate cut this year will reach 125-150 basis points.

Also, the markets are now focusing directly on the non-farm payrolls data in the United States for the month of December, which is scheduled to be released next Friday, and the reading is expected to show a further slowdown in the labor market is the trend that is likely to put more pressure on the bank. Fed to consider cutting interest rates early.

Expectations indicate that the US economy recorded 168 thousand jobs during the month of December, less than the previous reading of 199 thousand. Expectations also indicate an increase in the unemployment rate by 3.8% from the previous reading of 3.7%.

Inflation and the labor market slowed significantly during 2023, but price pressures remain well above the Federal Reserve’s 2% annual target.

Fed members warned in December that the central bank would need to see further declines in both inflation and employment to consider cutting interest rates early. Fed members also warned that bets on early rate cuts by the Fed were excessive. optimism.

It is worth noting that the US dollar opened trading today with an increase of 0.2%, recording an increase for the third session in a row, moving away from the lowest level in 5 months that gold recorded last week according to the dollar index. The yield on US government bonds for 10 years also rose to record the highest level in two weeks. At 4.024% after bond yields fell in December.

2024-01-02 11:35:00
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Books – Islam Saeed Friday, December 29, 2023 01:58 PM Shahada gold pricesToday, Friday, a limited rise after falling yesterday due to a recovery U.S. dollar From its lowest levels in 5 months, and the yield on US government bonds was far from its lowest levels, and spot gold recorded an increase during today’s session, Friday, by 0.3% to trade at $2070 per ounce, after opening today’s session at the level of $2065 per ounce.

Yesterday, gold recorded the highest level in 3 weeks at $2088 per ounce, but the price then decreased by 0.6% to record the lowest level at $2064 per ounce, closing yesterday’s trading at $2065 per ounce, according to the Gold Bellon report.

Gold kept the price above the level of $2065 per ounce for 3 days, which has become support at the immediate level, and gold now has to break the important resistance level at $2080 per ounce, which opens the door to the target of $2100 per ounce.

Trading volumes are witnessing a weak decline in almost all global financial markets due to the holiday season, which prevents gold from gathering any upward momentum to breach the resistance level, which pushes the price to fluctuate between $2065 – $2080 per ounce.

Gold’s decline yesterday was helped by the recovery witnessed by the US dollar. The dollar index rose by 0.4% yesterday after recording a new lowest level in 5 months. This led to a decline in gold prices in light of the inverse relationship that links it with the dollar.

As for the pending home sales index in the United States, it was released yesterday to witness a zero reading of 0.0% during the month of November, compared to expectations that were high by 0.8, while the previous reading was low by -1.2%, which indicates another decline in the sector’s performance. Homes.

So far, indicators of the US economy indicate that it continues in the soft landing scenario, which means that the performance of the economy gradually declines without falling into economic stagnation, and this works to reduce inflation rates without falling into stagflation.

This scenario encouraged the US Federal Reserve to end the cycle of raising interest rates during its last meeting, indicating the expectations of bank members to reduce interest rates by 75 basis points during the year 2024, but the markets now expect that the reduction may reach 150 basis points and the bank may begin reducing interest rates in March. Next.

2023-12-29 11:58:00
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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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