Monday , February 24 2020
Home / egypt / Gold prices fall on Tuesday

Gold prices fall on Tuesday


Gold prices


I wrote Hadar Hisham

Gold prices in Egypt experienced a new decline on Tuesday compared to Monday.

Where Gram fell by 3 pounds, this was due to a decline in global metal.

Najib Club, secretary general of the gold division at the Cairo Chamber of Commerce, revealed that the price of one gram of gold 21 caliber fell to 655 pounds a day, versus 658 pounds yesterday.

Read also: The new rise in gold prices on Sunday

The price of one gram of gold is 18 caliber today at about 561 pounds, the price is 24 grams at about 749 pounds, and the pound price of gold is 5240 pounds.

Globally, gold prices fell on Tuesday as the dollar rose and some investors sold yellow metal for profit before the Federal Reserve next week, Reuters reports.

By 0548 GMT, spot gold fell by 0.7% to $ 1,415.15 per ounce, and gold forward terms in US futures contracts fell by 0.8% to $ 1,415.40.

Gold is a safe haven in times of economic and political crises such as inflation, sovereign debt, etc. It's no secret that its price changes with the price of oil and the dollar, and the ratio is directly at the price of oil and vice versa with the dollar.

Gold is found in nature in the form of separate grains or mixed with silver or other metals, and the purity of golden jewels is measured with a gauge unit of cards, while gold has different rates of 10 to 24 carats, a piece of pure gold is 24 carats.

Source link