The “Sabah Al-Balad” program, broadcast on “Sada Al-Balad” satellite channel, reviewed a detailed report on… Gold prices in the market local on Friday.
Gold prices today
Gold prices witnessed noticeable changes today, Friday, as prices were recorded as follows:
Price of a gram of 24 karat gold:
The price of a gram of 24 karat gold reached 7028 pounds per gram.
Price of a gram of 21 carat gold:
The price of a gram of 21 carat gold, which is the most common caliber in Egypt, recorded 6,150 pounds per gram.
Price of a gram of 18 karat gold:
The price of a gram of 18 karat gold reached 5271 pounds per gram.
Gold pound price:
The price of the gold pound reached 49,200 pounds.
Reasons for fluctuations in gold prices and what are the pricing factors
Gold pricing depends on several key factors that affect its value in the market. Here are the most important factors:
1. Supply and demand
the offer: The amount of gold available on the market, whether through mining operations or recycled gold. If supply suddenly increases, this may cause prices to fall, and vice versa.
demand: Demand for gold as an investment commodity, as a manufacturing product, or as an ornament. For example, the demand for gold in the Indian and Chinese markets is a big factor in influencing prices.
2. US dollar price
Gold is usually priced in US dollars in global markets. If the US dollar rises, gold becomes more expensive relative to other currencies, and thus this may lead to a decrease in demand for gold.
The opposite is also true; If the dollar declines, demand for safe haven gold may increase.
3. Inflation and interest rates
Gold is considered a hedge against inflation. When inflation rates rise, investors resort to buying gold to protect their purchasing power.
Interest rates also affect; When interest rates are low, investing in gold increases as an alternative to investing in instruments with fixed returns.
4. Economic and geopolitical crises
Gold is considered a safe haven in times of economic or political crises. If war or political unrest occurs in a particular region, the demand for gold as a hedging tool rises.
Financial crises such as banking crises or stock market declines can lead to an increase in gold prices.
5. Changes in stock markets
In recessions or declining stock markets, investors tend to shift their money to gold as a safe investment.
6. Economic reports and news
Reports such as the unemployment report, economic growth, or the US Federal Reserve affect the markets’ expectations. If there are expectations of a rise in interest rates, gold may be affected by the decline.
7. Technology and industries
Gold is used in many industries, including technology, electronics, and medicine. Increased industrial demand for gold could also impact prices.
8. Fluctuations in global markets
Volatility in global markets such as stock and currency markets can create instability leading to movements in gold prices.
