Gold prices in Egypt have seen an increase from £1290 per gram from 21 carats to £1450, a £160 increase in just one week, from last Saturday so far, so what happened in the markets, Mohsen Fawzy, member of the Board of Directors of the Precious Metals Division, this significant price increase on the occurrence of gold demand is very high in Egypt all this week.
He added, in exclusive statements, that the global price of gold is falling and the Egyptian market is seeing big jumps as supply falls and demand increases, and the continued rise in demand could lead to further rising gold prices in the Egyptian market.
Gold prices were recorded last Saturday, November 19, 2022, for 18 carats, a record £1106, 21 carats, a record £1290, 24 carats, a record £1474 and a gold pound of 10,320 pounds.
Gold prices today, Saturday November 26, 2022, after registering a significant increase, to record one gram of 21-karat gold, the level of 1450 pounds per gram for the first time in the history of the price of the precious metal in Egypt, despite the global decline in the price of an ounce of gold.
Gold prices today:
18 carats registered 1217 pounds.
21 carats, record 1450 pounds.
24 carats, a record 1624 lbs.
The gold pound is 1360 pounds.
rose gold prices Slightly on course for a weekly gain yesterday, Friday, Nov. 25, 2022, as it received support from the declining dollar on indications that the US Federal Reserve may soon slow the pace of interest rate hikes.
Minutes of Wednesday’s November 1-2 meeting showed that a “significant majority” of US Fed policy makers agreed that it “would soon be appropriate” to slow the pace of interest rate hikes and put the dollar on a path down weekly, making gold cheaper for overseas buyers.
The Fed announced its fourth consecutive 75 basis point rate hike earlier this month and analysts widely expect it to raise interest rates by 50 basis points at its December 2022 meeting.
