Economic news today, Wednesday.. Gold continues to rise in Egypt

Over the past hours, the seventh day has published a number of important economic news, perhaps the most prominent of which is the continued rise in gold prices in the Egyptian market today, Wednesday. In the following lines, we shed light on the most prominent economic news.

Gold prices today continue to rise

Today, Wednesday, gold prices in Egypt witnessed an increase of about 4 pounds, and 21 karat, which is the best seller in Egypt, scored 1127 pounds per gram, and the price of an ounce of gold on the global stock exchange rose from 1674 dollars to 1683 dollars, so that the price of gold locally continued to rise due to the movement of the dollar.

Gold price today in Egypt:

Carat 18 records 967 pounds.

24 karat gold records 1289 pounds.

21 carat records 1129 pounds.

The gold pound is 9016 pounds.

Globally, gold prices rose with the announcement of the Russian President, Vladimir Putin, the partial mobilization of the army, as it continued the war on Ukraine since late February.

The stock exchange fines 10 companies 5,000 pounds for violating the listing rules

The Egyptian Stock Exchange’s listing committee decided, in its session held today, Wednesday, to sign a financial commitment of 5,000 pounds on 10 companies for violating the provisions of Article 46 and Article 47 of the rules for listing and writing off securities, in light of the provisions of Article 64 of the executive procedures for the rules for listing and writing off securities.

The committee gave the companies a period of 15 days from the date of expiry of the deadline, to provide the ASE with the quarterly financial statements for the financial period ending on 30/06/2022, in light of the provisions of Article 64 of the executive procedures for the rules for listing and delisting securities.

The list of companies that were fined included: Golden Pyramids Plaza, Speed ​​Medical, Citadel Capital Consulting, The Egyptian Building Industry Development (Lift Slab Egypt), Al Arabiya and Bolvara Spinning and Weaving, Wadi International for Investment and Development, Golden Coast Sokhna for Touristic Investment, GMC For Industrial and Commercial Financial Investments, General Tours, Maritime & Petroleum Services – Maridive.

currency jump

A state of anticipation and anxiety dominates the global currency markets currently, awaiting the US Federal Reserve’s decision today, Wednesday, in which it is scheduled to announce the bank’s decision on interest rates, and it is expected that it will be a decision to raise the interest rate significantly on the dollar to counter the increasing rise in inflation rates in the American market.

The price of the dollar today… And the fears of an expected unprecedented hike in the interest rate on the dollar increased this evening, the Russian President Vladimir Putin’s announcement of a partial mobilization of the army, citing media reports today, Wednesday, which led to the rise in the price of the US currency “the dollar” to an even higher level. The level of 20 years ago, which significantly negatively affected the performance of global currencies.

Currency markets in the world suffer from a state of instability during the other two months, for several reasons, including the continued rise in inflation in the largest global markets such as the United States, where the inflation rate reached record levels exceeding 8.3%, for the first time in 40 years, which forced the Bank The US Federal Reserve has taken violent measures to confront inflation, led by a series of decisions to raise interest rates on the dollar, which damaged the value of most currencies linked to the value of the dollar, which led to a large and often sharp decline for most of these currencies, as well as the continued rise of inflation in each of the European Union countries. and China.

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