The seventh day provides a daily vision of what the global gold market is witnessing, the developments of international gold exchanges, as well as gold price trends during daily trading. The global gold market is witnessing a high demand these days for the yellow metal, with a rise in inflation in more than one country.
Today, Wednesday, October 13, 2021, the global gold market awaits the announcement of the final reading of the German CPI, the GDP in the UK, the US CPI and the US 30-year bond auction.
Gold prices in Egypt witnessed a slight movement of 3 pounds, in light of a noticeable movement in the price of an ounce of gold in spot trades on global stock exchanges, as gold is exposed to high demand with a rise in the inflation wave during the current period with damage to supply and supply chains, in addition to a movement in the price of gas. Globally there is a shortage of power supply.
Political and economic turmoil leads to an increase in demand in global stock exchanges, and this leads to a rise in the price of the yellow metal, because it is a safe haven for investors, companies and investment funds.
Gold prices today in Egypt, 18 karat price 661 pounds per gram, 21 karat price 771 pounds per gram, 24 karat price 881 pounds per gram, the gold pound 6168 pounds.