Gold bullion prices in Egypt.. start from 14 thousand pounds

The prices of gold bullion in Egypt inside goldsmiths’ shops, without manufacturing and tax, are witnessing remarkable stability, in light of the fact that gold prices have not undergone any change since the beginning of morning trading until now, according to data from the General Division for Gold and Jewelry.

Gold bullion prices in Egypt, which came as follows:

The price of a gold bar is 5 grams

• The price of a 5-gram 24-karat gold bar in goldsmiths’ stores is 14,410 pounds.

• The price of a 100-gram gold bar is 287,689 pounds.

• The price of a gold bar is 10 grams

• The price of a 10-gram 24-karat gold bar reached 28,819 pounds.

Bullion prices in Egypt

While the price of a 50-gram alloy in goldsmiths’ shops, without tax and workmanship, is 143,845 pounds.

• As for the price of a 20-gram 24-karat gold bar, it is 57,558 pounds.

• While the price of a 5.35-gram gold bar reached 15,523 pounds.

• The price of a 10.35 gram 24 karat gold bar in goldsmiths’ shops is 30,025 pounds.

• The price of a 31.10-gram gold bar is 89,503 pounds.

This week, the gold market is awaiting the release of data on the US economy, including the preliminary reading of the gross domestic product for the third quarter. The gold market is also anticipating at the end of the week the Federal Reserve’s preferred inflation data, which is the indicator of personal consumption expenditures, which may affect gold prices.

A positive reading of the gross domestic product in America, better than expected, may have a negative impact on gold, since the flexibility of the US economy’s growth is the most important reason behind bond yields remaining at their highest levels in 16 years, and these factors may reduce the chances of gold continuing to rise and entering into a correction. A negative level that gold greatly needs to gather enough momentum to return and breach the $2,000 per ounce level and record a new record level, according to Gold Billion’s analysis.

Market analysis indicated that the main support from the escalation in the war in the Middle East remains present to support gold, in addition to that recent weeks have witnessed an increase in the actual demand for gold in the Asian region.

In the same context, Japanese investors are seeking to protect their purchasing power, as the yen witnessed significant weakness in global currency markets, which prompted them to turn to gold. At the same time, Chinese investors are turning to the yellow metal to protect themselves from the economic slowdown.

One of the reasons behind the rise in Asian demand for gold last week is the global geopolitical risks and capital flight caused by the possibility of a weak Chinese economy.

The detailed Commitments of Traders report issued by the Commodity Futures Trading Commission, which shows the speculative situation on gold for the week ending October 17, showed a sudden increase in contracts to buy gold by 11,080 contracts compared to the previous report, while contracts to sell gold decreased by 30,225 contracts compared to the previous report. .

Late data issued by the Commodity Futures Trading Commission (COT) report shows a significant increase in demand for contracts to buy gold compared to previous weeks, due to investments resorting to gold as a safe haven after the beginning of the war in the Middle East.

It is expected that the increasing demand for gold purchase contracts will continue during the coming period until signs emerge of resolving the current crisis and the end of geopolitical tensions.