Gold prices in Egypt are affected by a wave of global losses .. and this is what I achieved

After the losses experienced by gold around the world, which were directly reflected in the Egyptian market, the demand for the purchase of precious metal has increased over the past two days, when it was expected that demand continues to rise alongside the wave of losses in pursuit of the precious metal. at the World level.

Speaking to Al-Arabiya.net, Egypt Gold Division member Khader Ismail said demand for gold has increased by significant percentages over the past two days as the wave of losses suffered by gold on world stock markets caused prices. go from levels close to 800 pounds for a gram of 21 karat gold, which is the most sold in Egypt, to the limits of 760 pounds per gram at the present time.

He explained that the move has increased demand and buying in exchange for stopping dealer sales in recent sessions, especially as a large portion of the owners of financial surpluses have left possession. dollar, which shows no movement and has stopped at levels below 15.65. pounds a long time ago, which sparked the tendency of a segment of the Great Egyptians to own gold.

In today’s transactions, the price of a gram of 18-karat gold has registered around 652 pounds, while the price of a 21-karat gram has fallen by around 761 pounds, while the price of ‘a 24 gram saved about 870 pounds. And the price of a gold pound in Egypt was about 6,112 pounds. The price of an ounce of 24 karat gold was approximately 27,096 pounds. While the price of a kilo of 24 karat gold was around 874 thousand pounds.

Over the past few days, gold prices have seen a wave of declines in Egypt, where a 21-karat gram has lost around 40 pounds, after dropping from the 798 pound level to around 761 pounds at present. .

Globally, gold prices rose in trading today, Tuesday, after strong selling in the previous two sessions, and oil prices rose more than 1%. And boosted demand for the safe haven gold halted the dollar’s gains, but fears of raising interest rates earlier than expected held back its rise.

And gold in the spot market rose 0.4% to $ 1,734.58 an ounce. And gold advanced in US futures trading 0.6% to reach the level of $ 1,736.

The price of gold has fallen more than 4% in the past two sessions after U.S. jobs data beat expectations, bolstering speculation about a rapid reduction in Federal Reserve measures to support the economy. Right now, investor attention is focused on data on consumer price inflation in the United States of America, which is expected to be released on Wednesday.