24 Hrs
Source:
اليوم السابع
Investors Resume Gold Buying Worldwide
Global gold markets experienced a strong resurgence in July 2026, following two months of investment withdrawals from gold funds. During the same month, the World Gold Council reported cash inflows of $3 billion, leading to an increase in managed assets to $530 billion and holdings rising to 4,068 tons. This support pushed gold prices worldwide to record their largest weekly gains since January, with the ounce rising by 1.5% to reach $4,316 before trading at $4,306. Locally, gold prices in Egypt increased despite the depreciation of the dollar against the Egyptian pound, with 21-karat gold reaching approximately 6,100 Egyptian pounds. Investors continue to view gold as a safe haven amid global economic uncertainties, while the market awaits the US employment report and its potential impact on interest rates. The yellow metal continues to receive support from renewed investment flows, with forecasts suggesting prices may rise further if the level of $4,300 per ounce is broken.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)