After reaching record highs with a value of 60 pounds per gramme due to the drop in the value of the dollar against the pound, gold prices in Egypt today, Wednesday, November 2, 2022, started with declines of value between 7 and 10 pounds per gramme that had been recorded in evening transactions.
Egyptian gold prices were reflected at the start of the following day’s transactions:
Gold calibre 24 was priced at 1382 pounds per gramme.
Gold caliber price 21 amounted to: 1210 pounds per gram.
The cost of gold at calibre 18 was equal to 1037 pounds per gramme.
About 9680 pounds were paid for a pound of gold, a decrease of 40 pounds.
As the US dollar and bond returns declined on Tuesday and attention shifted to the forthcoming (US Central Bank) Federal Reserve announcement on interest rates, gold prices rose by more than 1%.
After touching $ 1696 earlier in the session, gold climbed in immediate trade by 0.9% to 1647.24 dollars an ounce.
94. Upon settlement, US gold futures increased 0.6% to 1649.70 dollars per ounce.
Gold prices today, Wednesday, November 2, 2022 .. Gold drops 40 pounds.
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