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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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