We publish a price update gold Today, immediately, according to developments in the international gold exchange, noticeable changes in the price of gold at goldsmiths, and new amendments to gold manufacturing and tax.
Gold prices today
– 24 karat: 7549 pounds.
– 21 caliber: 6605 pounds.
– 18 caliber: 5661 pounds.
– Gold pound: 52,840 pounds.
Gold loses the $4,500 level and continues to decline
The retreat comes in Gold prices After gold failed to maintain its gains, closing below the level of $4,500 per ounce, which pushed it further down today in light of the continued downward momentum.
Recent data showed an unexpected rise in job openings in the United States during the month of April, increasing expectations that the Federal Reserve will maintain its tight monetary policy for a longer period.
Beth Hammack, a member of the Federal Reserve Bank of Cleveland, said that the Fed may have to raise interest rates soon if already high inflation pressures continue to increase.
Markets currently expect the Federal Reserve to keep interest rates unchanged at its scheduled meeting in June, but traders are still anticipating the possibility of a rate hike this year. Higher interest rates tend to put pressure on non-income-producing assets such as gold, by increasing the opportunity cost of holding gold.
Gold manufacturing
The Egyptian Tax Authority decided to raise the average value Workmanship on gold jewelry And silver and platinum by 10%, starting next July and for a year, bringing the manufacturing capacity of a gram of 21-karat gold to 64.41 pounds, and 18-karat gold to 96.64 pounds.
This comes in addition to the application of a value-added tax of 14% on manufactured goods only, and the Tax Authority indicated that the value of the aforementioned factory price is treated tax-wise only and does not reflect the actual price in the markets.
