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Gold hits lowest in a week outlook for 21-karat
Gold prices experienced a decline during today's trading sessions, with the 21-karat gold reaching its lowest level in a week, influenced by declines in global markets and the drop in the US dollar exchange rate in Egyptian banks. The gold price opened at approximately 6,260 Egyptian pounds per gram and rose to 6,285 pounds before falling again, recording a total decline of 60 pounds. Experts anticipate that the downward pressure will continue, with key support levels holding at 6,250 pounds. Globally, the gold ounce dropped to its lowest level at $4,291, amid ongoing factors such as Federal Reserve expectations and weaker oil prices, which have both supported or negatively impacted gold movement. Nonetheless, supportive factors remain, such as investment fund inflows backed by gold, which have increased for the eleventh consecutive week, while market outlooks continue to depend on ongoing economic tensions and developments in monetary policy.
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