Gold continues to fall and falls 13 pounds in two days

Gold News News Gold prices have fallen again in Egypt Friday, with the hope that it will continue to decline in the coming days, thus reaching the lowest levels of the year. , Secretary General of the Golden Division of the House of Cairo The price of gold 21 caliber fell during trading today from 5 pounds to 610 pounds per gram compared to 615 pounds yesterday, which means that he lost 13 pounds in two days, after falling 8 pounds yesterday.

The price of gold around the world, during the session today $ 3 dollars in a few hours, to reach 1215 dollars an ounce, the lowest level from one year.

The price of 24-gauge gold to mark 697 pounds, and the standard 18 record 522.9 pounds per gram, 4880 pounds of gold, according to Najib.

Najib says that the fluctuation in gold prices causes a recession in the local market because it hinders the movement of sales and purchases.

"Those who want to sell are thinking of waiting for a further rise in prices, and those who want to buy are expecting further declines," according to the club.

Gold loses global gains early in 2018, due to the appreciation of the dollar.

According to Reuters, Ronald Long, chief trader at Li Cheong Gold Trading in Hong Kong that the gold market is following the dollar, the strong dollar and then pushing the market down.

"The economy is still good and the interest rate is still high, which is good for the US dollar and negative for gold right now."

The dollar rose against other currencies backed by Powell 's comments, which confirmed forecasts of at least two further US interest rate hikes this year, the company said. agency.

Najib predicts that if gold continues to decline globally, its price in Egypt should fall to less than 600 pounds in the coming period.