Gold and dollar prices in Egypt are setting records today, Thursday

Gold and dollar prices in Egypt are setting records today, Thursday
Gold and dollar prices in Egypt are setting records today, Thursday

The price of gold increased against the dollar, reaching $1,755 an ounce, today, Thursday, November 24, 2022, compared to the US currency index, the “dollar”, which fell near the range of 105,650 points.

gold

Gold rose after the release of the US Federal Reserve minutes yesterday, Wednesday, November 24, to stimulate the appetite of the local and foreign investors in the global gold exchanges.

dollar

The dollar fell after the spread of economic uncertainty by limiting the pace of the federal interest rate increase in the coming period, to range between 50% and 25%.

The price of the dollar in Egyptian banks today, Thursday, November 24, 2022

Locally, the price of the dollar increased against the pound, reaching 24.56 pounds for buying and 24.58 pounds for selling in the Arab Investment Bank and Abu Dhabi Islamic Bank.

The dollar records in the Bank of Alexandria about 24.51 buying and 24.58 selling, and in the transactions of the National Bank of Egypt, Al Baraka Bank, Bank of Egypt, the Housing and Development Bank, the Central Bank of Egypt and the Bank of Kuwait, the price of the dollar against the pound reached 24.48 buying and 24.53 selling.

Gold prices today, Thursday

The price of gold in the Egyptian domestic market also increased as follows

The price of 24 karat gold reached about 1611 pounds.

And the price of 21 carat gold is at 1410 pounds.

And the price of 18 carat gold is about 1208 pounds.

gold pound

The price of the gold pound increased by 8 grams, to reach 11,280 pounds today, Thursday, November 24, 2022.

The price of the dollar globally

For his part, Ahmed Moati, an expert in global financial markets, said that the dollar declined globally today, Thursday, November 24, losing its purchasing power, to reach 105.670 points, a decrease of 0.27%, from the morning opening level at 105.852.

In his statements today to “The Week”, Moati referred to the minutes of the US Federal Reserve yesterday, Wednesday, November 23, 2022, which reinforced the tendency of the monetary policy pound towards reducing the rate of increase in its interest rates from 75% to 50% or 25%.

Gold price forecast

The economist expected that global gold prices would witness a state of rises in the coming period in light of the continued certainty of a decline in the pace of increase by the US Federal Reserve, especially after the investors’ appetite was stimulated to move towards low risks with a high return “gold”, as opposed to the high risk in exchange for the limited return in US bonds. .

The price of an ounce of gold

And the price of an ounce of gold increased today, Thursday, to reach 1756 dollars, after investors escalated economic certainties about the US Federal Reserve, after declining during the past days near the 1732 dollars range.

The price of gold and the dollar rose strongly in the Egyptian market, Thursday, November 24th

Tags: Gold dollar prices Egypt setting records today Thursday

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