Today, Wednesday, the price of gold in Egypt continues to rise in record levels of 21 carat, which is the best -selling in Egypt by about 120 pounds in one go after the global gold leap and broke the $ 4000 barrier on the ounce, setting a record in the global markets.
Gold prices today
24 caliber records 6191 pounds.
– 21 caliber records 5417 pounds.
18 caliber records 4,643 pounds.
Gold pound 43336 pounds.
Useful reduction forecast enhances gold gains
This ambiguity led to the preference of traders, safe haven investments such as gold, and investors have relied on the performance of the American employment sector on alternative indicators indicating the slowdown in the labor market and enhance imminent reduction in interest rates.
Investors put a 97% probability to reduce the interest rate by 25 basis points in October, and a risk of 85% for another similar reduction in December, and these expectations are positive for gold that does not provide a return to its holders and thus reduces interest rates reduces the cost of an alternative opportunity for gold.
53 % increase in gold since the beginning of the year
Gold has increased by 53 % since the beginning of the year, while it is one of its strongest increases in history, and it is expected that we will witness the continuation of this emerging stage of gold thanks to the total economic powers that support the gold trade, such as central banks and US debt purchases.
UBS expected the price of gold to rise to 4200 dollars an ounce in the coming months, as the cost of alternative opportunity to possess gold decreases thanks to the decrease in real interest rates in the United States, while the expectations for the continued weakness of the US dollar in general are another assistant factor for gold.
Central banks added 15 tons net to global gold reserves in August, and this is generally in line with the net monthly purchases between March and June, and indicates the return of purchase after the stability of global reserves in July.
