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Gold prices in Egypt today, Tuesday 22-6-2021

Gold prices in Egypt rose at the beginning of trading today, Tuesday, June 22, 2021, with a value of only two pounds, to record 21 karat, which is the best-selling in Egypt, 772 pounds per gram, against the background of the increase in the price of an ounce of gold now from 1780 dollars to 1785 dollars at the time of drafting these lines.


Gold prices today:

Caliber 18: 661.70 pounds.

Caliber 21: 772 pounds.

Caliber 24: 882.25 pounds.

The gold pound: 6176 pounds.

An ounce of gold is $1,785.


The market was affected by the statements of US Federal Council Chairman Jerome Powell, who said that the US economy continues to show a "continuous improvement" from the repercussions of the Corona virus pandemic, while the job market continues to gain, but inflation "has increased significantly in the past few months."


Powell did not go into details in his prepared remarks about current monetary policy or about the possibility that the US central bank would be forced to accelerate its plans to withdraw some support from the economy due to the rapid increase in prices.


In his comments, published by the Federal Reserve late this afternoon, Powell said he considers the current jump in inflation likely to fade, and reiterated his concern that the economic recovery remains patchy.


"We at the Federal Reserve are doing everything we can to support the economy for as long as necessary to complete the recovery," Powell said.


Gold prices were strongly affected during the past week, following clear indications from the US Federal Reserve that it intends to raise interest rates twice by 2023.