Friday, 04 January 2019
I wrote – Shaima Hafezi:
Gold prices in Egypt reached the third consecutive weekly increase, supported by subsequent gains in world metal prices.
The price of gold rose during the week of last week – the first week of the new year – about 3 pounds, to register on Friday, 645 pounds per gram 21, said the club Najib, general secretary of the Chamber of Commerce of the division of gold, Lamasrawi.
The price of one gram of 18 carat gold rose today to 553 pounds, the price of gold 24 grams to 735.8 pounds, and the pound sterling rose 5160 pounds.
Despite the increase in gold last week, but the value of the increase is lower than the two previous weeks, which amounted to 12 pounds per gram.
Najib expects a further increase in gold prices during the day if the global price of crude continues to rise.
During the day, in global markets, gold sank most of its gains in early trading after hitting the highest level on Friday in six and a half months.
Asian equities and the dollar gained ground after the Beijing announcement of a new round of trade negotiations with Washington, amid fears of a global economic slowdown, according to Reuters.
Gold rose globally by around 0.2% in the spot trade at $ 1295.55 an ounce by 0621 GMT, after reaching its high from mid-June to $ 1298.42 the & # 39; ounce first.
Gold traders are betting that prices will resume in 2019, as gold is more likely to be used as a safe haven, amid tensions over the US-China trade war and expectations of rate slowdowns in the US US.
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