We publish the latest update on the price of gold today, Thursday, January 5, 2022, at the beginning of today’s dealings, and the price of a gram of 21 karat gold, which is the best-selling in Egypt, reached 1750 pounds per gram, while the global price is heading up, recording 1858 dollars.
Gold prices today:
18 karat, a record of 1,500 pounds.
21 caliber, record 1750 pounds.
24 karat, record 2000 pounds.
The gold pound is 14,000 pounds.
Hisham Al-Laithi, gold and metals market analyst at Sam Precious Metals, confirmed that the global gold market during 2023 is directly linked to the central banks’ interest-related trends, whether by further raising interest rates or slowing down the rate of interest rise, which will have direct repercussions on the price of an ounce of gold.
Hisham Al-Laithi indicated that the statements of Kristalina Georgieva, Managing Director of the International Monetary Fund, in which she said that the year 2023 will be more difficult and everyone will feel stagnation in the global economy, will support gold in the first quarter of the new year, stressing that negative global economic expectations will be one of the pillars. Gold and an ounce may witness levels of $ 1900 soon.
The gold market analyst explained that the expectations of a slowdown in the Chinese economy this year due to the return of closures in some areas as a result of the outbreak of the Corona virus will have direct effects on gold, which gains more confidence among investors, because the precious metal is the biggest winner from economic and geopolitical tensions.
Al-Laithi said that the rise in interest rates and the strengthening of the dollar may put pressure on gold for some time this year, but at a slower rate than expected amid the high waves of inflation that will continue until the second half of 2023, and this gives more support for gold in the first quarter of 2023.
Hisham Al-Laithi concluded that gold is awaiting this week the announcement of the minutes of the Federal Open Market Committee meeting tomorrow, Wednesday, and it is expected that the report of the change in US non-agricultural sector jobs will be announced, and in the event that the jobs are positive, then gold may witness some decline, and in case of weakness Employment, gold may receive more support and a rise in it, targeting $1850 in the medium term.