The price of gold rose against the dollar today, Thursday, November 24, 2022, to reach $1,755 an ounce, compared to the US currency index, which fell at 105,650 points.
Gold increased after the release of the US Federal Reserve minutes yesterday, Wednesday, to stimulate the appetite of the local and foreign investors in the global gold exchanges.
While the dollar declined after the escalation of the state of certainty by reducing the pace of the US Federal Reserve interest rate, to range between 50% and 25% during the coming period.
The price of the dollar in Egyptian banks today, Thursday, November 24, 2022
Domestically, the price of the dollar rose against the pound, reaching 24.56 pounds buying and 24.58 pounds selling in the Arab Investment Bank.
While the dollar in the Bank of Alexandria recorded about 24.51 buying and 24.58 selling, and with the transactions of the National Bank of Egypt, Al Baraka Bank, Banque Misr, the Housing and Development Bank and the Central Bank of Egypt, the price of the dollar against the pound reached 24.48 buying and 24.53 selling.
gold price today
Gold also rose in the Egyptian domestic market to record
The price of 24 karat gold is about 1611 pounds.
The price of 21 carat gold is at 1410 pounds.
The price of 18 karat gold is about 1208 pounds.
The price of the gold pound increased by 8 grams, to reach 11,280 pounds today, Thursday, November 24, 2022.
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.
Muati explained this in his statements today to “The Week”, 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 pace 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 rose today, Thursday, to reach 1756 dollars, after investors escalated economic certainties regarding the US Federal Reserve, after declining during the past days near the 1732 dollars range.
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