Gold prices have come down again, and are significantly higher than previous periods, especially since gold prices in Egypt recorded record numbers in the past days. I wonder if gold will go down again in the coming days. When is the right time to buy?
Gold prices in Egypt are falling again, and currently the price of gold is declining every day from the day before, and gold is now falling, and the price recorded by gold has not been present in Egypt for a long time, especially since the yellow metal in Egypt over the past few weeks has reached record numbers that it has not reached. Before the economic reform decisions in Egypt, which were made last March, these decisions were related to completely liberalizing the exchange rate of the Egyptian pound against foreign currencies.
Gold prices last week recorded global increases in a very large way. The price of a gram in Egypt reached 21 karat, which is known to be the most widespread and sold in Egypt, especially in the villages and governorates. It reached more than 3,800 pounds per gram, and this is a very high price compared to the prices in Cairo, which… It was registered for less than 3,000 pounds, and it also dropped under this number and reached less than 2,700, but the developments The global crisis that took place and that approved energy prices globally, especially the Russian-Ukrainian war, which caused a global crisis in energy and food prices, is in addition to the many changes and tensions that a large number of countries in the world are experiencing, which had a direct impact on energy prices globally, and of course the first The impact of energy prices on the prices of the yellow metal.
Ok, what made gold prices fall again in Egypt?
The American elections had a direct impact on gold prices globally, especially since US President-elect Donald Trump promised that the dollar would return to its position naturally, especially since this retreat is known for its economic strength and this is known from the first term of the presidency of the United States of America, during which America was one of the economic powers. The first thing in this world is that it is not the first economic power in the world.
After the promise of the new US President-elect Trump, gold began to decline very significantly, especially since the central banks in the whole world began to abandon the idea of acquiring gold and began to focus on the dollar, which made a complete rebound in the dollar and the dollar returned to its normal state, and because of this, the price of gold declined significantly. Globally, this decline was reflected in our prices in Egypt, and in fact, gold prices began to decline again, and currently it is recorded at 3685 per gram 21, which is the most widespread and sold in Egypt.
The Gold Division advised citizens who want to invest their money in gold to go quickly to buy the yellow metal, as prices will not go down again, and what is coming will be different prices and completely higher than this. It also advised people who put their money as investments in gold not to rush and sell gold at the present time, especially since the prices Gold is at its lowest level in Egypt, and in the coming period, its price will rise again and significantly, especially since we We are entering the beginning of a new calendar year, and there is an upcoming meeting of the Monetary Policy Committee of the Central Bank, which is expected to reduce interest rates on lending and deposits. This is not the near expiration of the 27% certificate from the banks, which was presented at the beginning of the current year.
