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Q and A .. How do we understand the movement of gold prices globally and in the Egyptian market?



Gold prices at the global level and in the Egyptian market recorded significant declines, as the price of an ounce of gold fell to its lowest level in almost 8 months, to be recorded in the trading sessions yesterday evening, Monday, the price of $ 1715, and gold in Egypt fell to 765 pounds for 21 gauge, which is the main caliber. How do we understand this violent movement of gold towards the decline and the reasons for this decline?


Why has the price of gold declined?

The main reason for the decline in gold prices globally and then locally in the Egyptian market is due to a partial recovery in the dollar against a basket of major currencies, as well as the recovery of stock markets in global stock exchanges, and this affected the attractiveness of the precious metal, so gold fell approximately 0.5% to $ 1715. An ounce moved to 1720 and 1721 dollars.


How do we understand the relationship of gold to the bond market?

The global price of gold was supposed to continue its rise in today's trading, because the yield of US bonds recorded noticeable declines yesterday evening, but the investors' tendency towards risk and abandoning gold as a safe haven caused the great decline of gold to come down to levels not seen since the middle of 2020, specifically in June 2020. The relationship between gold and the bond market is opposite if the bond yield rises, then gold prices fall, and if the bond yield decreases, gold rises, with the need to take into account other factors affecting the price of gold, including the dollar.


What is the relationship of the gold price to global changes?

The price of gold in Egypt is linked to the movement of the metal globally, as the Egyptian market was not far from the global changes in gold, and gold went down in the goldsmiths market approximately 8 pounds, and here the market is directly linked to the price of an ounce and all changes in an ounce are followed by changes in gold in the Egyptian market.


Are gold price conditions stabilizing?

The movement of gold globally and in the Egyptian market will continue to change and fluctuate in the coming hours, after 24 hours, it was full of continuous changes, after gold opened its circulation yesterday, Monday at a significant increase in the price of an ounce, exceeding 1.1% to record $ 1750, but the prices fell at the end of the same day's transactions to 1715 Dollar, then gold resumed its slight rise on Saturday morning, then other changes to the downside, and so the price is not stable due to speculation.

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