In local markets, gold prices stabilize in an early latter from Monday’s trading around yesterday’s closure levels, after recording a decrease in profit making operations after record record heights during the previous period, against the background of the bounce of gold prices in global markets today after retreat Paped profits on Friday.
On the level of global markets, gold prices in global markets are bounce early today after the reception of profit makers on Friday; As the weak trading volumes due to the president’s day holiday in the United States can lead to exaggeration in the moves.
Gold prices in global markets are in preparation for the talks of the United States and Russia on the peace agreement in Ukraine and before the minutes of the Federal Reserve Federal meeting on Wednesday with the follow -up of developments on the customs definition plans for US President Donald Trump.
Global gold prices can witness a new rise with the decline in the daily RSI relative index from the purchasing saturation areas.
The markets continue to expect the conflict between Russia and Ukraine soon, as US President Donald Trump is scheduled to hold a meeting with Russian President Vladimir Putin in Saudi Arabia on Tuesday, as the chances of declining geopolitical risks pressure on the US dollar, which supports the renewed rise in prices gold.
Currently, gold prices in global markets are derived from tensions over the imminent tariff war between the United States and the European Union. “The European Commission will reveal strict import limits on some foods made with different criteria in order to protect its farmers, which reflects the policy of mutual trade definitions of US President Donald Trump,” the Financial Times FT newspaper reported on Sunday.
At the local level, Ihab Wasef, head of the gold and precious minerals Division in the Federation of Egyptian Industries, said that the gold market in Egypt witnessed a remarkable rise during the past week, as prices recorded four consecutive weeks of altitudes, supported by the significant rise in global markets besides the return of the rise in The dollar exchange rates in Egypt.
Wasif explained that this rise came supported by external and internal factors, the most important of which is the rise in gold prices globally, in addition to the increase in the official dollar exchange rate against the Egyptian pound in Egyptian banks, which supported the rise in gold in Egypt, despite the significant decrease in demand along with profit reaps. .
In the same context, Hani Milad, head of the Gold Division of the Federation of Egyptian Chambers of Commerce, said that gold prices in the local market have witnessed significant heights during the recent period, driven by the rise in global markets, as the ounce prices exceeded the 2900 dollar barrier for the first time ever.
Milad added that the purchase movement in the local market is witnessing a state of calm as a result of poor cash liquidity among individuals, explaining that a number of citizens recently tended to sell gold in order to reap profits.
He also pointed out that the continuation of the current American economic policies may contribute to recording more rise in global gold prices, which will in turn reflect on the local market.
Gold prices in Egypt come on Monday (without adding grammanship) as follows:
A gram of 24 carat gold: 4668 pounds.
A gram of 21 -carat gold: 4085 pounds.
A gram of 18 carat gold: 3501 pounds.
14 -carat gold gram: 2723 pounds.
Gold pound: 32680 pounds.
Common questions about gold
2025-02-17 07:45:45