4 Hrs
Source:
اليوم السابع
Central banks boost gold holdings
The article discusses the support of global gold prices through purchases by central banks, particularly China's central bank, which added about 20 tons to its reserves in July as part of its ongoing gold purchases for the twenty-first consecutive month. This has raised its total acquisitions since the beginning of the year to approximately 60 tons. It also confirms that the gold price trend in Egypt is influenced by three main factors: the movement of global gold prices, the exchange rate of the US dollar against the Egyptian pound, and local demand along with the volume of reverse sales operations. The price of 21-karat gold in Egypt remains stable at around 6,320 Egyptian pounds per gram, amid weak local demand and the price's failure to break through the resistance level of 6,400 pounds, reflecting ongoing challenges in regaining upward momentum for gold.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)