Islam Saeed wrote
Monday, March 25, 2024 09:29 AM
We publish Gold prices in Egypt today Monday, March 25, 2024, the beginning of the week’s trading, where 21-karat gold recorded 3,030 pounds per gram, which is the best-selling item in Egypt due to the decline in gold on the global stock market. In the context of the following lines, we monitor developments. gold prices Today in Egypt.
Gold prices today:
24 karat records 3463 pounds.
21 carat costs 3030 pounds.
18 karat carat costs 2597 pounds.
14 karat registers 2020 pounds.
The gold pound is 24,240 pounds.
Gold on the global stock market
The Federal Reserve kept interest rates steady at a range of 5.25% – 5.50%, but the bank members expected to cut them by 75 basis points by the end of 2024, unchanged from their last expectations last December, while the number of members voting to cut rates increased this meeting from the last expectations. Which affected gold.
And raise Federal Bank From its forecast for the inflation rate this year to 2.6% from its previous forecast of 2.4%, the bank described inflation at this meeting as still high.
The Fed began an aggressive policy tightening cycle two years ago in response to rising inflation that eventually reached a 40-year high, but it has kept interest rates in a range of 5.25%-5.50% since last July.
decreased U.S. dollar By 0.7% according to the dollar index, which measures its performance against a basket of 6 major currencies. Also, the yield on 10-year US government bonds decreased since the beginning of the week by 1.9% to record today’s lowest level at 4.226%.
The weakness of the dollar and US bond yields reduce the opportunity cost of gold, which supports the precious metal’s rise, which is what we saw during today’s session, especially after the financial markets increased their pricing for the US interest rate cut next June to 74%, up from 58% before the Fed meeting. .
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