A week brimming with changes in the precious metals markets, specifically on gold, where prices recorded significant declines of about 35 dollars, as gold fell from 1905 to 1870 dollars per ounce, then gold began to compensate for these declines since last Thursday evening and reached in Friday’s trading the level of 1890 dollars globally, And that with the release of the jobs report in the United States of America, and there are 3 main reasons that changed the path of gold from descending to rising.
The precious metal rose after the US jobs report, which came less than expected.
The tendency of European countries to increase taxes on multinational companies.
Changing the bond yield’s trajectory to fall temporarily.
The dollar index fell from its 3-week high
The price in Egypt rises by 5 pounds at the end of the week’s trading due to these effects.
The gold market in Egypt recorded declines of approximately 12 pounds in the middle of the week for the main caliber, but the market corrected its course with the global rises of gold, and then rose 5 pounds at the end of the week’s trading, to record gold at the price of 811 pounds per gram of 21 karat.