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The stability of gold prices today, Saturday, and 21 karat records 787 pounds per gram


Gold prices in Egypt recorded today, Saturday, a remarkable stability at 787 pounds per gram, at the end of this week’s trading, following the most turbulent changes in the precious metal.


Gold prices today


 18 karat gold records 674.5 pounds.


  21 karat gold records 787 pounds per gram.


  24 karat gold recorded 899.4 pounds.


  The gold pound is 6296 pounds.


  An ounce of gold is $1,808.

 

Gold achieved its third gain at the conclusion of this week's sessions, as the safe haven attraction of the yellow metal was boosted by concerns about the fast-spreading delta smoothing from Covid-19 and a drop in US Treasury yields.


The benchmark 10-year US Treasury yields fell to near the lowest level in more than four months, while the US dollar rose 0.1% towards its highest level in three months, recorded in the previous session.


Sentiment remains fragile in the broader stock markets as the delta strain threatens the global economic recovery, pushing Asian stocks to a two-month low.


The minutes of the US Federal Reserve's June policy meeting, released Wednesday, revealed that while economic recovery is "generally not yet achieved", Fed officials agreed they should be prepared to act if inflation picks up or other risks materialize.


The precious metal is under pressure due to concerns about an imminent tightening of monetary policy by the US Federal Reserve, which pushed gold to decline 7% in June.

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