I witnessed gold prices In Egypt today, Saturday, March 30, 2024, at the beginning of trading, there was a slight increase, and gold recorded 3115 pounds per gram of 21 carat, which is the caliber of gold jewelry and coins in Egypt, and in the context of the following lines we monitor the developments in gold prices today in Egypt.
Gold prices today:
24 karat records 3560 pounds.
21 caliber records 3115 pounds.
18 karat weighs 2670 pounds.
14 karat weighs 2077 pounds.
The gold pound is 24,920 pounds.
International gold exchange
The price of an ounce of global gold recorded a new historical level during trading at the end of the week’s trading, before trading in commodities in the global financial markets stopped due to a holiday in the markets today, Friday, despite the release of important inflation data from the United States today.
The global price of an ounce of gold rose to record the highest historical level at $2,236 per ounce. With this historical level, gold rose this week by 3.1% and recorded the highest monthly rise since July 2020 during March trading by 9.2% and during the entire first quarter, gold rose by 8.3%. %.
The main reason behind the record rise in gold prices today is the increasing demand for gold as a safe haven before the markets begin a long weekend during which many developments may occur in light of the continuing geopolitical tensions, which prompted financial portfolios to buy gold before the beginning of this holiday, pushing the price of gold to Record levels, according to Gold Billion.
Today, global commodity markets are closed due to the holiday, and despite this, personal consumption expenditures index data is released for the United States of America, which is the preferred indicator of inflation by the US Federal Reserve, with expectations that the core index, which excludes inflation, will rise by 0.4% from the previous reading of 0.3%, while the core index is expected to rise by 0.4% from the previous reading of 0.3%. The annual reading is expected to decline to 2.7% from the previous reading of 2.8%.
Gold finds strong support from the continued growth of geopolitical concerns that are expected to continue until the US presidential elections next November. In addition to this, if the US Federal Reserve begins to reduce interest rates next June, as market expectations indicate with a 60% probability, bond yields will decline, making Gold is a more attractive safe haven
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