During the past 24 hours, gold prices witnessed a clear jump of up to 10 pounds in the price of gold in the Egyptian market, so that all the gold bullets traded during the trading sessions on Thursday evening rose significantly, after gold touched the lowest point in 3 weeks.
Gold price today in Egypt:
Gold prices jumped during the past hours from 760 pounds for 21 karat gold, which is the main carat in the goldsmiths market, to levels of 770 pounds per gram, which is the price recorded in the gold market now at the time of writing these lines, and we may witness other changes in the price of gold with the closure of the global market for the precious metal in late Friday evening.
Today’s 18-carat gold price recorded a remarkable jump from 650 pounds at the beginning of trading yesterday, Thursday, to 660.25 pounds at the end of Thursday’s trading, so that this price remains with us in the goldsmiths market until the middle of trading today, Friday.
24 carat gold prices are recorded in the gold market now at a price of 880.75 pounds per gram, while it was recording at the beginning of the trading sessions yesterday, the price of 870 pounds per gram, and we stress that there are no gold artifacts of this caliber, but it is the main component in gold bullion.
A jump in gold prices.. Find out the reasons
Reasons that pushed gold prices to achieve a clear jump during the past 24 hours, perhaps the most prominent of which is a slight decline in the return of the US dollar, and this is the first reason for global gold to rise from levels of 1723 to 1760 dollars at the time of writing these lines.
The second reason for a jump in gold prices is a slight decline in the US bond yield, which causes an increase in demand for gold in global stock exchanges, and then a rise in the prices of the yellow metal.
Gold prices on global stock exchanges are under great pressure to curb their continued rise, with anticipation in international markets that the US Federal Reserve will intervene with an expected interest rate hike during a meeting on November 2 and 3, 2021.