Gold prices stabilized in Egypt on Monday morning, with expectations of a drop in prices globally and locally due to positive results from the Oxford University vaccine.
And earlier Monday, AstraZeneca and Oxford announced that the effectiveness of the vaccine that both sides are developing against the Corona virus reaches 90%.
These promising results came after a hike gold prices Globally, in early trading of the two.
Has stepped up gold prices, On Monday, taking advantage of the weak dollar and hopes of more monetary stimulus in the United States to ease the affected economy.
وارتفعت Prices for the precious metal In immediate transactions 0.2% to $ 1873.51 an ounce by 0510 GMT.
However, this picture will change during dealings with the emergence of the third vaccine, indicating that the uncertainty in the global economy is approaching, and the loss of gold Its luster as a safe haven.
And with most investors taking the risk, it will fall gold pricesAs happened when positive results for the Pfizer vaccine were announced, and afterwards, the Moderna vaccine.
Gold prices declined globally after Pfizer and Our Manager reported positive results for Corona vaccines, which prompted some investors to pump $ 27 billion into equity funds and buy stocks in the most affected sectors, such as banking, travel, entertainment and oil.
And in Egypt it has not changed gold prices On the close of trading on Sunday, the price of a gram of 24 carat gold in Egypt on Monday was about 930.25 pounds.
As for the 21-carat gold gram (the most popular in Egypt), it recorded about 814 pounds, and the 18-carat gold gram scored about 697.75 pounds, and the price of the gold pound in Egypt recorded about 6512 pounds.
And gold prices in Egypt are expected to decrease during trading on Monday, while he is living Precious metal A phase of fluctuation between low and high, after the good news about Corona vaccines put an end to the continuous rise in gold since the outbreak of the Corona pandemic last March.