Gold prices fell today, Wednesday, in Egypt, by 3 pounds, to record 21 karat gold, which is the best seller in Egypt, 772 pounds per gram without workmanship, while an ounce of gold recorded clear fluctuation and continuous movement in the global stock market.
Gold prices today:
Caliber 18: 661.70 pounds.
Caliber 21: 772 pounds.
Caliber 24: 882.25 pounds.
The gold pound: 6176 pounds.
An ounce of gold is $1,755.
Precious metals markets were subjected to a clear shock on Tuesday, with the announcement of positive data on the growth of the US economy, which was reflected in gold prices on global stock exchanges, which recorded a noticeable decline to close to levels of $1750 per ounce, and the markets are awaiting today, Wednesday, June 30, 2021, the announcement of some economic data that is expected. To affect the international prices of gold, and then the prices in the Egyptian market.
Mamdouh Abdullah, an expert in precious metals markets, says that the gold markets are awaiting the data of the Chinese manufacturing PMI and the Chinese non-manufacturing PMI, indicating that if these data are positive, the market is subject to further decline.
Abdullah added, in exclusive statements for the seventh day, that today, Wednesday, it is also scheduled to announce the final reading of the British gross domestic product (quarterly), as well as the change in employment in the private sector in the United States, which is the most important data we are waiting for this week, which will have clear repercussions. on gold prices globally and locally.
He pointed out that among the economic events are also the announcement of the Canadian gross domestic product (monthly), the purchasing managers’ index in the state of Chicago, the pending home sales in the United States, and US crude oil stocks, pointing out that today is the most important this week, and the markets will witness a great movement.
He explained that the jobs report in America alone has significant effects on the movement of gold, so all traders are waiting for this data to make buying or selling decisions, noting that the price in Egypt is of course subject to change with these events and reports.