Gold prices declined today, Friday, December 7, 2024, in Egypt in evening trading, according to the latest developments in the yellow metal markets at the local and global levels.
The latest update for gold prices today in Egypt was as follows:
The price of a gram of 24 karat gold is about 4211 pounds.
The price of a gram of 22 carat gold is about 3,860 pounds.
The price of a gram of 21 carat gold is about 3685 pounds.
The price of a gram of 18 karat gold is about 3,158 pounds.
The price of a gram of 14 karat gold is about 2456 pounds.
The price of a gram of 12 karat gold is about 2,105 pounds.
The price of a gram of 9 karat gold is about 1,579 pounds.
The price of the gold pound is 29,480 pounds.
The gold market is still seeing a lot of noise, as the market initially went down, but it came back up a little bit and eventually, this is the situation in which traders are most likely to look for value in this market and this is the situation in which traders follow the longer-term trend, as well as On geopolitical issues worth pursuing.
The gold market initially fell overnight, but stabilized slightly after the US jobs numbers were released.
The jobs numbers came in tighter than expected, but not enough to make a lot of noise so we are likely to return to consolidation and even if we pull back from here, the market still has a lot of support underneath, especially near the $2,600 level, and the… The uptrend, then finally the $2500 level.
All things being equal, this is a market that if we can break through the $2675 level, we may open the way for a move towards the $2725 level, which is the highest level that gold has recorded recently.
Any break above this level opens up the possibility of a move towards the $2800 level and this is a market that has been in an uptrend for some time, so there is no reason to resist it and of course, there are still a lot of geopolitical issues that I think keep gold in the spotlight, at least to some extent.
