Witness price of gold In Egypt, in evening trading, there is remarkable stability at 1750 lbs per gram of 21 carat which is Egypt’s best selling, while global gold price witnesses levels of $1850 per ounce in spot gold trading .
Gold prices today:
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18 carats, a record £1,500.
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21, record 1750 lbs.
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24 carat, record 2000 lbs.
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The gold pound is £14,000.
Global Gold Prices
Gold prices rallied on Thursday, January 5, supported by dollar weakness as market participants braced for US jobs data that could affect the course of Federal Reserve policy, and gold is it rose in spot transactions by 0.1% to $1856.11 an ounce, after hitting its highest level in about 7 months in the previous session.
US gold futures also rose 0.1% to $1,861.20 and the dollar index fell 0.1%, making gold traded in the US currency more attractive to foreign investors.
The ADP National Employment Report is due out and will be followed Friday by the US Department of Labor’s release of closely watched nonfarm payrolls data.
The minutes of the Federal Reserve’s December monetary policy meeting, released last night, showed officials’ agreement that the US central bank should slow the pace of sharp interest rate hikes.
The yellow metal is seen as a hedge against inflation and economic uncertainty, but high interest rates tend to put pressure on gold, which does not produce a return.
Among other precious metals, silver stabilized in spot transactions at $23.74, while platinum was up 0.2% to $1080.88 and palladium was up 0.3% to $1080.88. 1793.38.
