Monday 09/December/2024 – 05:03 AM
Gold prices stabilized in Egypt today, after a series of rises for the metal globally on the impact of the US interest rate cut, which would enhance the rise The precious metal worldwideAccording to the gold price lists in the Federation of Chambers of Commerce.
Gold prices today in Egypt
Price of a gram of 24 karat gold
The price of 24 karat gold was about 4269 pounds.
Price of a gram of 21 carat gold
The price of a gram of 21 carat gold was about 3,735 pounds.
18 karat gold price
The price of 18 karat gold was about 3,201 pounds.
The price of the gold pound in Egypt
The price of the gold pound was about 29,880 pounds.
Gold price globally
The global price of an ounce reached $2,633.
On the other hand, the price of gold in Egypt was affected by a sharp decline in the global price of gold, in light of the local gold pricing during the last period being largely dependent on changes in the global gold price.
According to Ay Sagha, the rise in the dollar exchange rate limited gold’s losses in local markets, in light of the decline of the ounce on the global stock market, affected by the uncertainty that dominates global markets, amid anticipation of US labor market data, and the US Federal Reserve’s decision regarding the fate of interest rates during the next meeting.
A statement from the platform added that exchange rate movements in the local market are more influential than price movements on the global stock exchange. Every movement in the exchange rate by about 20 piasters moves the price of gold by about 5 pounds, while a movement in prices on the global stock market by about 10 dollars moves the price of gold by about 6 pounds. .
He pointed out that the strong labor market data issued last Friday reduced the pressure on the US Federal Reserve to accelerate the reduction of interest rates, despite increasing expectations that the US Federal Reserve will reduce interest rates, by 25 basis points, to reach 4.25%-4.50%, in Monetary Policy Committee meeting on December 18
