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The price of gold witnessed, this evening, Tuesday, June 29, 2021, a sudden decline to reach its lowest level in 11 weeks, affected by the rise of the dollar, due to fears of the Federal Reserve’s tendency to tighten monetary policy and raise interest rates before the time specified before.

The yellow metal suffers from a state of instability and swings between ups and downs as traders await the new US economic data, especially the monthly jobs report.

The price of gold in Egypt has witnessed, since the morning, a successive decline, followed by a slight increase, but it is still lower than the prices achieved in the morning, and gold in Egypt is affected by international prices in light of the weak demand for it locally.

And the Gold Division in Egypt announced that the price of 24-carat gold, in goldsmiths without workmanship, this evening, Tuesday, amounted to 884 pounds, and the 21-carat most prevalent in Egypt, 774 pounds, and 18-carats 664.5 pounds, and the gold pound at 6190 pounds.

And the global price of gold witnessed, this evening, a significant decline, reaching $30 an ounce, achieving its lowest level since mid-April, due to the rise in the dollar index, which reached its highest level in two months.

Gold futures fell during the Asian session, as well as spot gold, by 1.4%, while the dollar index rose by 0.3%, with the stability of the return on US bonds, and gold is affected globally by the dollar index and the bond yield, as it has an inverse relationship with them. In light of the dollar’s strength and positive US economic data, which enhances the demand for the dollar and weakens the demand for the yellow metal, which has lost its luster in front of traders.

And the price of 21 karat gold, the most prevalent in Egypt, in the financial markets, on Tuesday evening, was 776.79 pounds, and in the morning it was 782.89 pounds, while the “ounce” recorded 1,761.79 dollars, and in the morning it was 1,773.74 dollars.

“Al-Masry Al-Youm” publishes gold prices on Tuesday evening, June 29, 2021, in goldsmiths’ shops in Egypt, without workmanship.

Unit The price of gold in Egyptian pounds
24 . caliber 883 to 886
22 . caliber 810 to 813
21 . caliber 773 to 775
18 . caliber 663 to 665
14 caliber 515 to 517
12 . caliber 442 to 443
ounce 27,475 to 27,546
gold pound 6,148 to 6,200
kilo 883,429 to 889,714

Average gold prices in the financial markets in Egypt and globally, Tuesday evening, June 29, 2021

M Unit Egyptian Pound American dollar
1 24 karat gold price 887.76 EGP 56.64 $
2 22 karat gold price 813.78 EGP 51.92 $
3 21 karat gold price 776.79 EGP 49.56 $
4 18 karat gold price 665.82 EGP 42.48 $
5 14 karat gold price 517.86 EGP 33.04 $
6 12 karat gold price 443.88 EGP 28.32 $
7 10 karat gold price 369.90 EGP 23.60 $
8 The price of the gold pound (weight 8 grams, 21 karat) 6,214.34 EGP 396.50 $
9 24 karat gold price per ounce 27,612.53 EGP 1,761.79 $
10 The price of the gold ingot (weight 100 grams, 24 karat) 88,776.35 EGP 5,664.29 $
11 24 karat gold price per kilo 887,763.54 EGP 56,642.86 $

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