Friday 8 February 2019
I wrote – Sherine Salah:
Gold prices fell in Egypt last week, losing an ounce of about 9 pounds, affected by the decline in the price of metal globally.
Najib Club, secretary general of the gold and gold division of the Cairo Chamber of Commerce, told Lamraoui that the price of one gram of gold caliber 21 fell today to register around 642.5 pounds compared to 651 pounds last Friday .
The price of an ounce of gold fell 18 pounds to 550.7 pounds, and grams of 24 pounds to 734 pounds, and the pound is 5140 pounds.
On a global level, gold stabilized on Friday for fear that a prolonged trade war between the United States and China could worsen the global economic slowdown, but the rise in the dollar put the yellow metal on track for the first time weekly loss in three weeks.
By 0533 GMT, gold was stable at $ 1309.24 the ounce after falling to its lowest level since January 29 to $ 1302.11 on Thursday.
Gold has changed little in US futures to $ 1313.20 an ounce.
US President Donald Trump said today that he has no plans to meet his Chinese counterpart Xi Jinping before March 1, the deadline set by the two countries for a trade agreement.
The dollar index hovers close to a maximum of two weeks. The index is a measure of the value of the US currency against six major currencies.