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Gold prices fell at the beginning of the week’s trading.. and 21 karat recorded 785 pounds per gram


Gold prices fell at the beginning of the week’s trading today, Monday, July 11, 2021, at a value of two pounds in Egypt, against the backdrop of the decline in the price of an ounce of gold globally to levels of 1801 dollars, compared to 1808 dollars as the closing price last week, amid anticipation and waiting from traders for the results of the upcoming 10-year US bond auction today. , which has a direct reflection on the movement of the gold index.

 

Gold prices today

Carat 18 recorded 672 pounds.

 

24 carat record 897 pounds.

 

21 caliber record 785 pounds.

 

The gold pound is 6280 pounds.

 

An ounce of gold is $1,801.

 

Observers of the gold index’s movement confirm that the US bond market, if it witnesses any rises in yield, gold will decline below 1800 dollars, as we saw last week the decline in the bond yields, which caused gold to rise to levels of 1808 dollars, so today’s US bond auction draws the movement of gold price

 

Last week, we witnessed a recovery in gold prices, as it traded above $1800 due to traders' tendency to search for a safe haven in light of the acceleration of the mutated spread of the delta virus from the Corona virus, along with the decline in US bond yields, and the US 10-year Treasury yields fell to 1.3 %, recording its second largest daily decline in 2021 last Tuesday.

 

A state of anxiety dominated the financial markets during the past week, causing stock indices to drop significantly in the middle of the week, but traders resumed taking advantage of the price drop opportunity, as US stock indices achieved a strong rise on Thursday and Friday.

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