Continuing to rise gold priceIn the global and local market, the scenario of gold registering levels of 800 pounds per gram of 21 carat, which is the best-selling in Egypt, is still strongly put forward. Will prices reach this figure this week?
Expect George Abdullah, member Precious Metals Division In the Chamber of Commerce, gold continued to achieve price hikes in the Egyptian market in light of a clear rise in the global price index, indicating that an ounce of gold in the world rose to levels approaching $ 1790 an ounce, referring to the dollar’s decline to its lowest levels in more than a month.
Abdullah told Al-Youm Al-Sabea that global prices of precious metals are receiving great support from the decline of the dollar against a basket of major currencies, which reduces the costs of possessing gold.
He indicated that the current stage may witness more support for gold in light of the continued decline in the yield of US bonds to low levels, and this increases the demand for other precious metals this week, indicating that the continuation of conditions in their current form may push us to levels of $ 1800 an ounce.
On the Egyptian market, George Abdullah revealed that the global trend of the yellow metal is pushing the price in Egypt to continue recording new highs that may eventually reach us at 800 pounds per gram of 21 caliber, which is the best-selling in Egypt, and this returns us to the 2020 scenario.