Gold prices in the Egyptian market today, Saturday, April 13, 2024

Islam Saeed wrote

Saturday, April 13, 2024 01:27 PM

We publish the latest update in gold prices In the Egyptian market today, Saturday, April 13, 2024, 21-karat gold in Egypt recorded levels of 3,210 pounds per gram of the main karat.

Gold prices today:

24 karat records 3669 pounds.
21 carat costs 3210 pounds.
An 18 karat carat costs 2751 pounds.
14 karat weighs 2140 pounds.
The gold pound is 25,680 pounds.

Global gold price per ounce

The price of an ounce of global gold witnessed a new jump last week to record the highest level ever and witness an increase for the fourth week in a row, as increasing tensions in the Middle East prompted investors to search for safe haven in the markets.

The price of spot gold rose last week by 0.6% to record the highest historical level at $2,431 per ounce, before closing the week’s trading at $2,344 per ounce, recording an increase for the fourth week in a row.

According to Gold Billion’s analysis, since the beginning of April, gold has risen by 5% and recorded a profit of $198, reaching its highest historical level, while since the beginning of the last strong upward wave at the beginning of March, gold has risen by 19% to record a profit of $387.

Geopolitical tensions in the Middle East region increased significantly this week due to expectations of an Iranian military strike against the Zionist entity as a retaliatory measure after the attack on the Iranian embassy in Syria.

This caused the VIX index, which measures volatility in financial markets and is called the fear index, to rise. Yesterday, Friday, it rose by 14.2%, the highest daily rise since mid-October 2023, to record the highest level in more than 5 months.

As a result of this, we saw the demand for safe havens in global financial markets rise sharply, with gold recording new record levels. On the other hand, American stocks fell for the second week in a row, and the Dow Jones Industrial Average recorded its lowest level in nearly 3 months.

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