Cairo – Mubasher: Gold prices on the world stock market fell 1.5 percent, at a value of $ 36, during trading in the week ending yesterday afternoon, Friday, which was affected by reducing expectations of a cut early in US interest rates.
Saeed Embabi, CEO of the “iSagha” platform for online gold and jewelry trading, said that gold prices in the local markets saw a state of stability during today’s business, and compared to the end of the business -what, until there was a gram price. of 21 carat gold registered a level of 3090 pounds, at the same time as the weekend On the world stock market, after the ounce closed yesterday afternoon at a level of $ 2,301, according to a press release today, Saturday.
Ebabi said that a gram of 24 karat gold recorded 3,532 pounds, a gram of 18 karat gold recorded 2,649 pounds, and a gram of 14 karat gold recorded about 2,060 pounds, and a pound of gold recorded about 24,720 pounds.
Gold prices rose by 5 pounds during trading yesterday, Friday, as the price of a gram of 21 karat gold opened transactions at the level of 3085 pounds, and transactions ended at the level of 3090 pounds, and an ounce fell by 4 dollars, as transactions opened at the level of 2305 dollars, and concluded that Transactions are at the level of $2301.
In a related context, gold strengthened at the end of the week’s trading yesterday, Friday, after the release of US jobs data, which again raised hopes for an early cut in interest rates, to avoid the US economy to a state of decline. .
The markets had lowered expectations for lower interest rates this year, following the US Federal Reserve’s decision to stabilize them, as well as Jerome Powell’s statements.
The US jobs report revealed a decline in the pace of hiring in April, as well as an increase in the unemployment rate, with average hourly wages declining annually and monthly.
He said the American economy added 175,000 jobs in the private sector in April, while experts expected the non-agricultural private sector to add 238,000 jobs as well as 167,000 jobs in April.
While the US unemployment rate was 3.9 percent in April, average monthly hourly wages were 0.2 percent in April, and year-over-year, average wages were 3.9 percent.
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