Urgent.. 15 pounds declined in gold prices during evening trading today, Monday 1-5-2023

Gold prices fell by about 15 pounds per gram during evening trading today, Monday, according to the General Division of Gold and Jewelry, with the continued state of fluctuation on the International Yellow Metal Stock Exchange.

Gold prices now in Egypt

Ounce: 1984 dollars
The price of 21 karat gold: 2655 pounds
24 karat gold price: 3034 pounds
The price of 18 karat gold: 2276 pounds
14 karat gold price: 1775 pounds

The value of gold in the pound before calculating workmanship, stamp or tax (the gold pound)
21,240 pounds

Global gold prices in dollars:

Gold has now turned losses after it was up 0.7% before the data was released.

It is now down by 0.15% in futures contracts, recording levels of $1,995 an ounce.

While spot contracts fell by 0.1% to 1988 dollars an ounce.

And gold prices have already turned upward now, affected by the news of the collapse of the “First Republic” bank and the acquisition of all its assets by “JP Morgan” bank, as gold is usually active in times of crisis as a safe haven from risks, and therefore with the return of the banking crisis to the fore again, activity has returned For the yellow metal, with the decline in risk appetite, it now jumps above the levels of $2,000 an ounce.

Futures are now up 0.7% at $2014 an ounce.

Spot contracts rose by the same rate to 2003 dollars an ounce.

The California financial regulator took over First Republic Bank, meaning the third US bank collapse since March, after a last-ditch effort to convince rival lenders to keep the ailing bank afloat.

The California Financial Protection and Innovation Authority (DFPI) said in a statement issued early Monday that JPMorgan will take over all deposits, including uninsured deposits, and substantially all of the bank’s assets.

Gold prices fell at the beginning of the week of the US Federal Reserve meeting, affected by the rise in the US dollar, with cautious traders awaiting the expected interest rate decision later this week.

Expectations indicate that the Fed will raise interest rates by 25 basis points, especially after the Fed’s favorite inflation indicator indicated on Friday that prices are still high and not declining at an appropriate pace.

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