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Amir Rizk, a member of the Gold Division, said that gold prices witnessed stability on Wednesday, compared to yesterday’s prices, as a result of the stability of the price of crude globally.
“Rizk” explained in a statement to “Al-Masry Al-Youm” that the price of gold today recorded $ 1702 an ounce, globally, to record the price of a gram of 21-carat gold in the Egyptian goldsmiths 743 pounds, while “18-carat” recorded 635 pounds, and “14-carat” 495 pounds While gold price recorded 5960 pounds.
Gold prices fell yesterday, as moves by some countries to ease restrictions linked to the Corona virus overshadowed concerns about the deterioration of relations between Washington and Beijing and reduced demand for gold.
And gold fell in the spot transactions by 0.1% to 1700.14 dollars an ounce, at 05:24 GMT, while it fell in future trading in the United States by 0.4% to 1706.10 dollars an ounce.
Italy and the United States joined a group of countries that eased isolation measures on Monday to revive their economies.
However, investors remain concerned about the escalation of tensions between China and the United States after US President Donald Trump threatened new fees to China because of its handling of the outbreak of the Corona virus.
Gold, which is an alternative during the political and economic crises, rose by 18% last year as a result of the tariff war and the reduction of interest rates in the United States.
Gold also gained 12% since the beginning of the year, with the US Federal Reserve keeping interest rates close to zero, and pumping trillions of dollars in urgent funding for US financial markets.
In addition to the United States, central banks and other countries have adopted similar measures to stimulate economies affected by the virus.
- The situation in Egypt