3 Hrs
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بوابة الشروق
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Gold Falls Further to 5775 Pounds
Gold prices in the local market have decreased by 25 Egyptian pounds, bringing the price per gram of 21-karat gold to 5,775 pounds. This decline is due to the fall in the precious metal on global exchanges, driven by the strength of the US dollar and a decline in tech stocks. Overall, prices have dropped by a total of 75 pounds since the beginning of the day. In international markets, gold has declined for the second consecutive day amid mounting pressures from a rising dollar and decreased investor appetite, which has led to reduced holdings and negatively impacted the metal's status as a safe haven. Factors such as higher yields on Treasury bonds and expectations of interest rate hikes by central banks have affected gold prices, with forecasts suggesting further declines in the coming periods.
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