Global gold prices fluctuated during today's trading on Friday in a downward trend after yesterday's strong rises, as gold rose on Thursday by 1.3% after US employment data, and the United States recorded a new decline in initial unemployment applications, which somewhat eased the pressure on the strength of the economy, and that the US economy could avoid recession, which led to a rise in gold and 10-year Treasury bond yields.
Expectations still indicate a rise in gold in the coming period.
Gold prices rose locally in Egypt on Friday, August 9, at the beginning of trading, to increase the price of gold today 21 carat by about 10 pounds, according to the Gold Division.
The 21 caliber, which is the highest traded in Egypt, recorded levels of about 3415 pounds for purchase, and almost 3395 pounds in the case of sale.
The price of the dollar in the Egyptian parallel market also rose slightly to the levels of 49.58 dollars after it had exceeded the barrier of 50 dollars this week.
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