I blinked Gold prices in Egypt today Wednesday, May 29, 2024, in morning trading, by about 10 pounds, so that a gram of 21 carat gold, which is the best-selling gold in Egypt today, reached 3,130 pounds, as prices witnessed a decline in the Egyptian market after the decline in the international ounce.
Gold prices today:
24 karat records 3577 pounds.
21 carat costs 3130 pounds.
18 karat weighs 2683 pounds.
The gold pound is 25,040 pounds.
Global gold
decreased Global gold price per ounce During trading today, Wednesday, after three consecutive sessions of rise, this comes in light of the conflict between the expectations of Federal Reserve members and the markets’ expectations regarding the future of interest rates, in addition to the US dollar’s attempts to recover during today’s session.
The spot gold price recorded a decline today by 0.8% to record today’s lowest level at $2,340 per ounce, after opening today’s session at $2,361 per ounce. At the time of writing the Gold Bellion technical report, it was trading at $2,342 per ounce.
This comes after the price of gold rose during the past three sessions, with gold recording the highest level this week at $2,364 per ounce, keeping the price of gold lower by more than $100 compared to the highest historical price recorded at the beginning of last week at $2,450 per ounce.
Markets continue to be squarely focused on upcoming signals on inflation and interest rates in the US, although somewhat hawkish interest rate expectations have kept traders cautious towards gold markets.
Minneapolis Federal Reserve Bank President Neel Kashkari warned yesterday that some Fed policymakers have not ruled out further interest rate hikes to curb inflation, which is a negative scenario for commodity and metal markets, led by gold.
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