Gold prices stabilized in Egypt during the beginning of trading today, Thursday, March 12, with its movement near yesterday’s levels, amid limited trading tending to the sideways range in light of the state of caution that dominates the global and local markets.
Gold prices today:
– 24 karat records 8514 pounds
– 21 caliber costs 7450 pounds
– 18 caliber costs 6385 pounds
– The gold pound is 59,600 pounds
Gold in the market continues to move in a fluctuating manner without a clear direction, as a result of the uncertainty in global markets, in addition to local factors that increase the state of uncertainty within the gold market.
Gold in Egypt is also witnessing a state of pricing below the global level, in light of weak local demand and declining liquidity within the markets, especially with the cessation of gold export operations as a result of the disruption of air traffic to the Gulf countries, which represented the main market for exports.
Geopolitical tensions and high fuel prices in Egypt increased pressure on consumers’ liquidity, which negatively affected gold purchasing activity. On the other hand, reverse selling operations increased by some consumers with the aim of providing liquidity to meet the burdens of living.
