16 Hrs
Source:
المصري اليوم
_1777352244987_250242181.png&w=64&q=75){kind=small}
US jobs report impacts silver market
Gold prices locally increased during the week despite a decline in the global price of an ounce. Gold benefited from the rise of the dollar against the Egyptian pound, with the price of a 21-karat gram gaining 25 pounds to close at 6,325 pounds. Gold prices remained stable amid broad fluctuations throughout the week, and the gold pound rose to 50,600 pounds. Meanwhile, silver prices fell, with the 999-millimeter purity gram decreasing by 2.8% to close at 105 pounds, alongside a 1.4% drop in global ounce prices. This was accompanied by U.S. labor market data showing the addition of 162,000 jobs in August, which heightened the prospects of a Federal Reserve interest rate hike and negatively impacted non-yielding metals. Markets are now eyeing next week's inflation data to determine the future direction of gold and silver prices.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)