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Gold prices recorded today, Thursday, during trading in the local markets, new historical levels, with the price of an ounce rising in the stock market all over the world, after the data of the minutes of the previous meeting of the US Federal Reserve showed indications of officials’ desire to slow the record highs.
record levels within six hours
Gold prices rose by 27 pounds in the local markets during today’s trading, compared to the closing of yesterday’s trading, Wednesday, as a gram of 21 carat gold reached the level of 1391 pounds, while an ounce rose to the level of 1756 dollars, and prices are still rising.
Amir Rizk, a goldsmith expert, says that all gold ratings reached record levels in just six hours, so the values of 24-carat gold ranged by about sixty-one pounds at 1611 pounds, compared to the morning price of about 1560 pounds.
And Rizk confirms, during a special statement to Al-Bawaba News: “Gold prices are still rising, supported by the value of the global ounce, which recorded about $ 1,758, which could reach within the amount returned near the barrier of $ 1,800.”
Slow down in buying and selling
He pointed out that raising the interest rate at a slower pace, to reach 50% and 25%, will stimulate other havens, such as gold, to move upward towards the real value.
And he advised those who are about to buy gold to slow down in buying and selling due to the strong and expected rise during the coming period, indicating that selling operations at this time is better than buying.
Historical jump in prices
At the local level, gold prices jumped today, Thursday, in Egypt, and the price of a 24-carat gram rose to record 1,650 pounds with workmanship in some goldsmiths’ shops for some artifacts, and 1,594 pounds without workmanship, and millions are interested in searching for gold prices in Egypt today.
21 karat today recorded 1,395 pounds for purchase after 1,365 pounds yesterday, which is the highest price it reached in its history locally, while it recorded 1114 pounds on Wednesday 10-26, and it also recorded 1120 pounds on Saturday, October 15, and reached 1145 pounds on Thursday, September 22, in When the price of an 18-carat gram recorded today 1,196 pounds, while the price of a gram of 14 carat recorded 930 pounds.