Gold is losing 20 pounds over the course of this week’s trading … Learn the reasons for the decline

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Gold prices lost 20 pounds per gram over the course of this week’s transactions, as gold opened transactions this week at a price of 815 pounds per gram of 21 carat, which is the main caliber of the gold market, and the yellow metal recorded several declines to 795 pounds per gram, bringing the total drop to 20 pounds per gram .

This week witnessed a large fluctuation in the price of gold between high and low, but the yellow metal started a big downward journey since last Wednesday evening, so gold continued its decline significantly in Thursday’s trading and lost about 18 pounds per gram, before gold returned and moved in a limited amount of 5 pounds up Friday trading.

The total decline in gold over the course of this week at the global level is 55 to $ 60, as an ounce of gold recorded the beginning of the week’s transactions at a price of $ 1860, and then took its way back to $ 1802 so far, and this decline was reflected in the price of gold in Egypt.

The yellow metal witnessed a large movement in the world over the course of this week, affected by what happened in the dollar, as the dollar recorded a big rise in Thursday’s trading, as it rose significantly against the main currencies, and this caused gold to fall, because the relationship between gold and the dollar is an inverse relationship, the more it rises The dollar fell, gold and vice versa.

The gold market in Egypt and the world is sensitive to any changes or disturbances in international markets, such as stock markets or currencies, as well as negative or positive economic reports, in addition to gold being affected by the price of oil and the movement of investments in global debt instruments.



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