Saturday 08 December 2018
I wrote – Shaima Hafezi:
Gold prices rose on the domestic market on Saturday, at the highest levels this year.
The price of one gram of gold in Egypt rose to 622 pounds today, the highest price since the beginning of the year, as a consequence of the rise in prices on the international stock exchange of about 8 dollars during trading yesterday, said Wasfi Wasef, head of the gold division of the Chamber of Commerce.
The price of a gram of gold rose from 18 to 533 pounds, grams of gold from 24 pounds to 710.9 pounds, and pound sterling gold 4976 pounds sterling.
Globally, gold prices rose to a maximum of 5 months after the weaker-than-expected job data in the United States.
The Reuters news agency said that gold rose as the dollar fell on the back of weaker than expected data on new jobs in the US, supporting expectations that the Federal Reserve could slow down Raising interest rates next year.
The spot gold rose by 1% to $ 1249.70 an ounce in the last US trade, the highest level since July 13.
US gold futures rose 0.72% to $ 1252.6 an ounce. The increase in subsequent transactions reached an agreement of $ 1255.1.
The yellow metal, a safe investment tool in times of financial and economic crisis and geopolitical uncertainties, has recovered around 7% from a minimum of 19 months to mid-August.
The yellow metal closed the week with gains exceeding 2%, recording the best weekly performance in 15 weeks.