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The price of the gold pound fell by 520 pounds in Egypt to record 21,880 pounds – Youm7

Islam Saeed wrote

Thursday, November 23, 2023 08:00 AM

We publish a price Gold pound In Egypt, after a decline of 520 pounds during the past hours due to a decline in gold prices in the Egyptian market, the price of the gold pound reached 21,880 pounds, compared to 22,400 pounds at the beginning of trading yesterday, Wednesday.

Gold prices on the global stock market

Gold prices are trying to consolidate above the $2,000 per ounce level in an attempt to take advantage of the decline in US dollar levels in addition to weak US bond yields, while investments are gradually returning to global gold markets.

The price of spot gold rose during trading yesterday, Wednesday, by 0.3%, to record its highest level today at $2,006 per ounce, and at the time of writing the Gold Billion technical report, it is trading at $2,000 per ounce, after it rose yesterday and recorded the highest level in 3 weeks at $2,007 per ounce.

Gold Bellion’s technical analysis monitored a rise in gold prices by 1.2%, with gold gaining $24 per ounce since the beginning of the week, and heading to record an increase for the second week in a row, and gold continues to try to consolidate above the level of $2000 per ounce and breach the current peak at $2007 per ounce to head towards the first target. At $2020 per ounce, then the 2050 level, then reaching the historical peak of gold at $2080 per ounce.

The minutes of the Federal Reserve’s meeting yesterday showed the bank’s adherence to its monetary tightening policy and willingness to raise interest rates an additional time when needed, but it showed more caution, which contributed to stopping the bleeding that the dollar has been exposed to since last week after weak inflation data on the US economy that pushed the markets. To expect the end of the cycle of raising interest rates and expect the start of interest cuts by the Federal Reserve in the first half of 2024.

2023-11-23 06:00:00
#price #gold #pound #fell #pounds #Egypt #record #pounds #Youm7

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