Gold prices in Egypt … 21 carat stops bleeding losses

Gold prices in Egypt … 21 carat stops bleeding losses
Gold prices in Egypt … 21 carat stops bleeding losses
Gold prices stabilized in Egypt at the close of trading on Sunday evening, after the precious metal was subjected to a series of decline over the past days.

According to the electronic platform “isagha”, which specializes in monitoring gold prices in Egypt and the Arab world through instantaneous surveys among merchants, the 24-karat gold gram stabilized at 944 pounds, while the 22-carat gold gram settled at 865.25 pounds.

As for the 21-carat gold gram, it has not undergone any change since morning trading, and it recorded about 826 pounds, while the 18-carat gold gram recorded about 807 pounds.

A gram of 14-carat gold recorded about 550.75 pounds, while a gram of 12-carat gold recorded 472 pounds, and a 9-carat gold gram settled at 354 pounds.

And the gold pound in Egypt scored about 6 thousand and 608 pounds, which is the same price recorded during morning trading.

Globally, gold prices decreased, at the end of last week’s trading, and recorded their first weekly loss in 3 weeks.

And gold recorded in spot transactions, 1903.24 dollars an ounce, to lose 1.4% since the beginning of the week. US gold futures fell to $ 1,907.50.

“There is some additional bullishness in the dollar and that is an opposite factor for gold, in addition to the ongoing (US) stimulus negotiations that have not resulted in progress,” said Edward Moya, senior market analyst at Oanda.

The dollar is heading to achieve its best weekly performance this month, as the rise in Coronavirus cases and the stalled progress towards providing American stimulus caused investors’ appetite for safe assets.

In light of the application of new restrictions to combat the spread of Covid-19 in Europe and Britain, the global reserve currency rose to its highest level in two weeks at 93.910 against a basket of currencies. It settled just below that peak in the Asian session.

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