📉 Gold is taking a hit in Egypt... and 21K is losing its shine temporarily!
We've seen gold prices in the Egyptian market dip during trading today, Saturday, amid ongoing global pressure on the yellow metal, alongside a strong dollar and market anticipation of U.S. interest rate movements.
💰 The price of 21K gold — the most traded in Egypt — is around 6865 EGP without manufacturing costs, following a noticeable drop over the past few hours.
Here's the approximate pricing for the other karats:
▫️ 24K: about 7845 EGP
▫️ 18K: roughly 5884 EGP
▫️ Gold pound: near 54920 EGP
📊 Analysts attribute this downturn to:
- The rise of the dollar globally
- Ongoing concerns about interest rates
- A temporary dip in demand for gold
- A state of market anticipation worldwide
On the flip side, some observers believe gold still holds a bullish trend in the long run, especially with continuing global economic tensions and volatility in financial markets.
👀 Will gold keep dropping in the coming days? Or are we going to see a new bounce back with the return of global demand?
#Gold #GoldPrice #21K #Economy #Dollar #Investment #Binance #Crypto #Markets
We've seen gold prices in the Egyptian market dip during trading today, Saturday, amid ongoing global pressure on the yellow metal, alongside a strong dollar and market anticipation of U.S. interest rate movements.
💰 The price of 21K gold — the most traded in Egypt — is around 6865 EGP without manufacturing costs, following a noticeable drop over the past few hours.
Here's the approximate pricing for the other karats:
▫️ 24K: about 7845 EGP
▫️ 18K: roughly 5884 EGP
▫️ Gold pound: near 54920 EGP
📊 Analysts attribute this downturn to:
- The rise of the dollar globally
- Ongoing concerns about interest rates
- A temporary dip in demand for gold
- A state of market anticipation worldwide
On the flip side, some observers believe gold still holds a bullish trend in the long run, especially with continuing global economic tensions and volatility in financial markets.
👀 Will gold keep dropping in the coming days? Or are we going to see a new bounce back with the return of global demand?
#Gold #GoldPrice #21K #Economy #Dollar #Investment #Binance #Crypto #Markets