Gold prices today rise by 30 pounds, and 21 karat records 1210 pounds

Gold prices rose today in Egypt by 30 pounds per gram, after falling this morning with almost the same value.

Gold prices today:

The price of 18 karat gold recorded 1037 pounds.

The price of 21 karat gold recorded 1210 pounds.

The price of 24 karat gold recorded 1383 pounds.

The gold pound is 9680 pounds.

Gold fell on Monday morning, as the dollar rose to a two-decade high, reducing the attractiveness of dollar-denominated gold to holders of other currencies, while rising US Treasury yields put additional pressure on prices.

Spot gold fell 0.7% to $1,870.70 an ounce by 08:17 GMT, and US gold futures fell 0.8% to $1867.90.

The dollar rose as investors searched for a safe haven that yields a return due to growing concerns about slowing global economic growth and rising interest rates.

US 10-year bond yields also rose to the highest level since November 2018, putting pressure on the non-yielding yellow metal prices.

While gold is a safe haven and store of value during times of political and economic crisis, it is very sensitive to short-term US interest rates as well as bond yields, which raise the opportunity cost of holding gold.

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