Gold bullion prices in Egypt

Written by Reham Al-Basha

Wednesday, May 10, 2023 01:30 PM

Gold bullion prices today

The price of a gold bar, weighing one gram, is 2914 pounds

The price of the gold bar, weighing 2.5 grams, is 7258 pounds

The price of a gold bar, weighing 5 grams, is 14,570 pounds

The price of a gold bar, weighing 10 grams, is 29,140 pounds

The price of the gold bar, weighing 20 grams, is 58,280 pounds

The price of an ounce of gold, weighing 31.1 grams, is 90,625 pounds

The price of a gold bar weighing 50 grams is 145,700 pounds

The price of a gold bar weighing 100 grams is 291,400 pounds

Gold prices in the global stock exchange

Gold prices moved weakly during today’s session, Wednesday, to witness a slight decline amid uncertainty about the US debt ceiling and slowing economic growth, while markets continue to focus today on US inflation data that will be issued today, according to gold Bullion. It is trading at the time of writing the report at the level of $2029.14 an ounce. This comes after gold recorded an increase for two consecutive days, with prices settling above the level of $2000 an ounce.

The slight decline in gold prices today does not reflect the continued recovery of demand for gold as a safe haven in the markets in light of the continuation of the US debt ceiling crisis and fears of a deepening US economic recession.

Yesterday, a meeting between US President Joe Biden and Republican policymakers ended on Tuesday without any concrete progress toward raising the federal debt ceiling, although the president reiterated that the US will not default.

This comes after US Treasury Secretary Janet Yellen warned that the delay or failure to take a decision to raise the US debt ceiling will cause the economy to contract sharply, with her indication that starting in June the government will be unable to pay its bills and obligations unless Congress approves raising the debt ceiling. .

Gold was able to be a strong support area at the level of $2000 an ounce, after it was able to record a historic level during the past week at $2080 an ounce, supported by the Federal Reserve’s indication in its last meeting of the possibility of a temporary halt to raising interest rates, which supported the rise in gold prices.

Books – Islam Saeed

Thursday, 04 May 2023 07:00 AM

Gold bullion prices today:

The price of a gold bar, weighing 2.5 grams, is 7512 pounds.

The price of a gold bar, weighing 5 grams, is 15025 pounds.

The price of a gold bar, weighing 10 grams, is 30050 pounds.

The price of the gold bar, weighing 20 grams, is 60100 pounds.

The price of an ounce of gold, weighing 31.1 grams, is 93455 pounds.

The price of the gold bar, weighing 50 grams, is 150,250 pounds.

The price of a gold bar weighing 100 grams is 300,500 pounds.

The US dollar fell against a basket of major currencies during trading for the second consecutive day, as the dollar index fell today by 0.4%, after a volatile performance yesterday, as the index recorded its highest level in 3 weeks at 102.172 before returning and closing down by 0.2%. , according to Gould Bellion.

The dollar’s decline coincided with a decline in the yield on government bonds, which reduced the demand for gold. The yield on government bonds for 10 years fell during today’s session by 1.2%, to record its lowest level in a week at 3.392%.

While the yield on two-year bonds, which are more sensitive to changes in interest rates, decreased today by 1.1%, to record the lowest level at 3.9284%.

Shares of gold companies witnessed a large positive session yesterday, after finding support from the recovery in gold prices, which indirectly pushed gold-related financial commodities to rise accordingly, led by shares of mining and gold companies.

Islam Saeed Books

Wed, 03 May 2023 10:33 AM

We publish the latest update on gold prices in Egypt today, Wednesday, at the beginning of the day’s dealings, after the stability of the gold price locally for all bullets circulating in the market, which is reflected in the prices of gold bars of all weights.

Gold prices today:

21 karat records 2640 pounds.

18 karat records 2263 pounds.

24 karat records 3017 pounds.

The gold pound is 21,120 pounds.

Gold ounce 2014 dollars.

Industry contraction in America affects gold

And the data of the Institute of Industrial Supply, which is the index that measures the performance of the industrial sector in the United States, was released, so that the April reading came and showed a contraction of 47.1, but it is better than the previous reading by a value of 46.3. sector.

The data of the manufacturing sector in the United States showed inflationary pressures in terms of the rise in the prices of raw materials and production supplies, in addition to the increase in the employment rate, which would support the decision to raise interest rates by the Federal Reserve, which negatively affected gold’s performance during yesterday’s trading.

Expectations indicate that the Federal Reserve will raise interest rates by 25 basis points during its meeting today, but the focus is on the bank’s statement accompanying the decision and the statements of Bank President Jerome Powell at the press conference, and we may see gold prices return to breaching the level of $2000 an ounce and trading above if the Fed sheds light On recession fears and hinted at a temporary pause in the interest rate hike cycle, while it may widen its losses if the bank indicates the persistence of inflation fears and the need for more interest rate hikes, according to Gold Billion technical analysis.

Books – Islam Saeed

Thursday, April 27, 2023 04:00 AM

Abdel-Wahhab pointed out that the collapses in American and European banks contributed greatly to giving a boost to gold globally, as it rose by about $ 150, after playing the role of a safe haven in markets that witnessed violent fears and aversion to risk since the resounding fall of Silicon Valley and Signature Bank. In the United States of America, before the infection was transmitted to the Swiss banking giant, Credit Suisse.

And the economic analyst suggested that gold prices will continue to rise during the coming period as a result of the continued state of uncertainty with the continuation of the state of war in Ukraine, and thus the continuation of the state of conflict. dollars, which will significantly raise its prices locally.

Books – Islam Saeed

Thursday, April 20, 2023 02:00 AM

The first quarter of 2023 witnessed strong fluctuations in gold price And recording record levels supported by many factors, one of which is the high actual demand for gold bullion, which resulted from the search for a safe haven due to the banking crisis and the fall of Silicon Valley and Signature banks in the United States, in addition to the Swiss banking giant Credit Suisse, according to the Gold Billion report.

The US Mint announced that demand for gold bullion historically increased during the first quarter and during the month of March, as sales increased by more than 38% in March compared to the same period last year, which is the best performance in the month of March since 2018, and quarterly sales increased by 2% % compared to the first quarter of 2022.

And the technical report continued, it is not surprising to see the strong sales data in March, as investors fled to the precious metal to protect their wealth, as global financial markets witnessed the largest banking crisis since the great financial crisis of 2008.

As a result, the widespread investment demand for gold pushed the price of gold above $2,000 an ounce and stabilized above this area, amid attempts to record a new historical level.