Friday, February 8, 2019
I wrote – Sherine Salah:
Gold prices fell last week in Egypt, with a gram losing about 9 pounds, affected by the global decline in the price of the metal.
Najib Club, secretary general of the gold and gold department of the Chamber of Commerce of Cairo, told Lamraoui that the price of one gram of gold 21 caliber today fell to approximately 642.5 pounds compared to 651 pounds last Friday.
The price of one gram of gold dropped from 18 pounds to 550.7 pounds, and grams from 24 pounds to 734 pounds, and the pound sterling gold was £ 5,140.
Worldwide, gold on Friday drew the fear that a protracted American-Chinese trade war could worsen the global economic slowdown, but the dollar's rise put the yellow metal on the right track for the first weekly loss in three weeks.
By 0533 GMT, gold was stable at $ 1309.24 an ounce after falling to its lowest level since January 29 at $ 1302.11 per ounce on Thursday.
Gold had little changed in US futures for $ 1313.20 per ounce.
US President Donald Trump said Tuesday that he was not planning to meet his Chinese partner Xi Jinping before March 1, the deadline the two countries had set for a trade agreement.
The dollar index floats close to a two-week high. The index is a measure of the value of the US currency against six major currencies.