It has undergone many changes gold price In the global market and Egypt this week, the metal fell by more than 3%, which was reflected in the price of gold in Egypt, and there are a number of important events that affected the movement of gold, which we review in the following lines.
Monday 13th September
Federal budget
Tuesday 14th September
Reserve Bank of Australia Governor Lowe’s speech
Consumer Price Index in the United States
Wednesday 15th September
Chinese retail sales
UK CPI
Canada CPI
Manufacturing Index in New York State
Industrial production in the United States
US crude oil stocks
GDP in New Zealand
Thursday 16th September
Change in employment and unemployment rate in Australia
US retail sales
Philadelphia manufacturing index
Weekly unemployment benefits in the United States
Friday 17 September
UK retail sales
The final reading of the consumer price index in the euro area
The preliminary reading of consumer confidence from the University of Michigan in the United States
An ounce of gold fell from 1787 dollars on Monday, the first day in the week of trading on gold, to 1754 dollars, as the closing price of gold on Friday, to lose an ounce of gold about 33 dollars, a large number that affected local gold prices in all countries of the world, and new expectations indicate To the possibility of continuing the decline in anticipation of the US Federal Reserve meeting.
There are 3 main reasons that caused the price of gold to fall in global stock exchanges, and perhaps the most prominent of them is the noticeable rise of the dollar, which affects the cost of holding gold, and then the occurrence of large declines in gold, and the second reason is a sudden rise in retail sales during August 2021 above expected, and this pushed Gold is down, and the third reason is the rise in the benchmark US bond yield this week.
Gold prices today in Egypt, 21 karat records 771 pounds per gram, 18 karat gold prices record 661 pounds per gram, 24 karat gold prices record 881 pounds per gram, the gold pound records 6168 pounds, and an ounce of gold on global stock exchanges is 1754 dollars.
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