The price of gold today ..
18 gauge 601 pounds per gram
Caliber 21 recorded 701 pounds per gram
Caliber 24 recorded 801 pounds per gram
The gold pound is 5608 pounds
An ounce of gold is $ 1624
Globally, gold prices fell in global markets today, with investors heading to collect cash to compensate for the losses of stock markets that are suffering from the pressure of the Corona virus outbreak despite the monetary stimulus measures put forward by central banks to support the markets.
The price of gold futures fell 0.4% to $ 1646.70 an ounce, and the spot delivery price fell by 0.7% to $ 1617.13.
CNBC News quoted Michael McCarthy, an expert with the CMC investment group, as saying, “The worse the situation, the more tangled the relationship between the stock and gold markets, adding that more deterioration in the global economy will drop gold prices as it will do in the stock markets.” “.
McCarthy explained, “I don’t mean that gold lost its value as a safe haven, but if the situation heads towards more deterioration, the precious metal may turn into a source for collecting cash liquidity and thus undermine its advantage as a haven for investors at a time of crisis.”
Several central banks were quick to take a quick response in order to absorb the economic shock resulting from the outbreak of the Corona epidemic through a package of economic measures valued at a total value of about $ 7 trillion, in order to spare companies to declare bankruptcy and compensate the unemployed in the affected countries.
On the currency front, the main index for the dollar, which follows the performance of the green currency, against six major currencies, rose about 0.5 percent at 98.869.