Gold prices in Egypt stabilized today, Sunday, at the same closing levels as last week, in conjunction with the weekly holiday for the goldsmiths market, and trading on gold stopped globally and locally, and 21 karat gold, which is the best-selling in Egypt, recorded 792 pounds per gram, and an ounce of gold recorded 1812 dollars.
The price of 18 karat gold recorded 678 pounds per gram, and 24 karat recorded 905 pounds per gram, and 21 karat gold amounted to 792 pounds, and the gold pound was 6336 pounds.
This week, the gold market went through many changes, for the precious metal to lose the top of its rise in about a month, after the dollar witnessed many changes to drop the precious metal globally to levels close to 1810 dollars per ounce. An economic report influenced gold trends.
On Monday, July 12, we saw the US 10-year bond auction and Tuesday, July 13, the announcement of the German CPI (monthly) (June), the Financial Stability Report of the Bank of England, the US CPI and the US 30-year bond auction.
Wednesday, July 14, we were up to date with the Bank of New Zealand interest rate decision, the British annual core CPI, the American producer price index, the minutes of the monetary policy committee meeting of the Bank of Canada, the statement of the interest rate decision by the Bank of Canada and the American crude oil stockpile
On Thursday, July 15th, the market witnessed the announcement of the Australian unemployment rate, the change in employment, the Chinese GDP (annualized) (Q2), the unemployment rate, the change in British employment, the Philadelphia manufacturing index (July), and the US jobless claims
US Industrial Production, Fed Chair Powell’s Testimony and New Zealand CPI
On Friday, July 16th, the market concluded with a noticeable decline to bring gold down from its rise in almost a month with the rise of the dollar and the announcement of the monetary policy report issued by the Bank of Japan and the core consumer price index for the Eurozone, US Retail Sales (MoM).