Islam Saeed wrote
Friday, March 29, 2024 01:23 PM
We publish gold prices In Egypt, in the middle of trading today, Friday, March 29, 2024, gold recorded 3,110 pounds per gram of 21 caliber– It is the caliber of gold jewelry and coins in Egypt. – In the context of the following lines, we monitor the developments in gold prices today in Egypt.
Gold prices today:
24 karat records 3554 pounds.
21 carat costs 3110 pounds.
18 karat weighs 2665 pounds.
14 karat records 2073 pounds.
The gold pound is 24,880 pounds.
Global gold
The price of an ounce of global gold recorded a new historical level during trading yesterday, Thursday, before trading in commodities in global financial markets stopped due to a market holiday on Friday, despite the release of important inflation data from the United States today.
The price of an ounce of global gold rose to record the highest historical level at $2,236 per ounce after the price rose by 1.7% yesterday. Yesterday’s session opened at $2,194 per ounce and trading closed at $2,233 per ounce.
With this historical level, gold has risen this week by 3.1% and has 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 yesterday 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 wallets to buy gold before the start of this holiday to push up 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%.
In addition to this, US Federal Reserve Chairman Jerome Powell is speaking today, and the markets are awaiting any hints regarding the future of monetary policy and interest rates, but the impact on the markets may be almost non-existent today, with the impact starting at the beginning of next week’s trading.
The significant rise in gold prices yesterday came despite the strength of the US dollar, which rose against a basket of major currencies to record the highest level in 6 weeks, with US dollar index trading settling above the 104.00 level.
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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