Latest news with #GoldDivision
Los Angeles Times
06-04-2025
- Sport
- Los Angeles Times
Daleah Cardenas lifts Rosary to Michelle Carew Softball Classic championship win
Given a chance at redemption, Daleah Cardenas made the most of her opportunity Saturday night in the Gold Division championship game of the Michelle Carew Softball Classic at Peralta Park in Anaheim. Relieving starter Ava Phillips, the Rosary senior pitcher got eight outs and did not allow a base runner to close out an 8-4 upset of Orange Lutheran. 'My drop curve is my best pitch and I was using it a lot,' said Cardenas, who shook off a poor outing in the semifinals earlier when she faced six batters, allowed four hits, hit a batter and recorded only one out. 'I feel the pressure when there's a huge crowd like this, but I just lock in and focus like it's just me and my catcher.' Phillips, who was selected Most Valuable Pitcher of the tournament, finally tired with one out in the fifth inning after having pitched 11 innings in two games Saturday — the second of which ended just before midnight. Cardenas got a double play to end the fifth, induced three Lancers lefties to ground out to first base in the sixth, got Kai Minor (Orange Lutheran's Oklahoma-bound center fielder) to hit a grounder back to her, struck out Madelyn Armendariz and got Cate Medvitz to line out to left field. In the Silver Division final, catcher Gia Otani tagged a runner out at the plate to save a run in the third inning, then belted a solo homer in the fifth to break a 1-1 tie as Oaks Christian held on to beat Millikan 2-1. Poway doubled up Riverside King 8-4 to take third place, Eastvale Roosevelt beat Capistrano Valley 12-8 for fifth and Tucson (Ariz.) Canyon Del Oro beat Phoenix Canyon View 6-1 for seventh. Anaheim Canyon edged Great Oak 4-3 to win the Bronze Division title when Sophia Sandoval scored from third base on a wild pitch in the bottom of the seventh.
See - Sada Elbalad
17-03-2025
- Business
- See - Sada Elbalad
Egypt's Gold Market Faces Record-breaking Prices
Taarek Refaat Gold prices in Egypt rose by 11% quarter-on-quarter in March compared to the fourth quarter of last year, and by 30% year-on-year. This increase came after local gold prices in Egypt reached EGP 4,170 per gram of 21-karat gold, the most popular and widely traded in Egypt, compared to EGP 3,750 per gram last December and EGP 3,200 per gram in March 2024. The increased supply of gold in Egypt is accompanied by a noticeable stagnation in the market, amid a continuous rise in prices, with expectations that the price of 21-k will reach EGP 4,500 per gram. Nagi Farag, gold affairs advisor to the Minister of Supply attributed the rise in the local price of gold in Egypt to its global rise, believing it to be the main factor driving the price of the yellow metal in Egypt. He said that it is not a matter of supply and demand, as the supply of gold far exceeds demand. Farag confirmed to Asharq that gold has become a key demand for central banks around the world as a secure hedging instrument. He expects its global price to exceed $3,100 per ounce during the first half of the year, increasing its local price in Egypt to approximately $4,300 per gram for the 21-karat gold, the most popular in Egypt, an increase of approximately 5% over its current price. The advisor to the Minister of Supply also predicted that Egyptians' gold purchases will decline in 2025 compared to last year, when purchases amounted to approximately 50.1 tons of gold, according to statistics from the World Gold Council. He attributed this to the successive rise in gold prices this year. Hani Milad, head of the Gold Division at the Federation of Chambers of Commerce told Asharq that gold sales in the local Egyptian market are "very weak," adding that gold purchases are currently "very limited," which is driving an increase in gold exports. Milad also predicted that global gold prices would rise to $3,100 per ounce in the coming months, believing that a global gold price increase of this level would raise its local price by between EGP 250 and EGP 300, reaching approximately EGP 4,500 per gram of 21-karat gold. Ehab Wassef, head of the Gold and Precious Metals Division at the Federation of Egyptian Industries, agreed with them, noting that the domestic supply of gold in Egypt exceeds demand. However, prices are rising due to investor fears abroad and uncertainty about the currency's economic future, which is driving them to seek safe havens for investment and increasing demand for gold. Wassef explained that the uncertainty among foreign investors is due to US President Donald Trump's decisions to take certain economic measures, such as imposing tariffs on US imports from its major trading partners. The head of the Gold Division said that Goldman Sachs has raised its forecast for the global gold price amid uncertainty caused by global conditions. He said that the threat of a ceasefire in the Russian-Ukrainian war could create a relative lull in global gold demand. Goldman Sachs raised its forecast for the gold price at the end of this year to $3,100 per ounce, up from $2,890, citing continued demand from central banks. The World Gold Council revealed that Egyptian gold purchases in 2024 reached 50.1 tons, a 12% decrease compared to Egyptian gold purchases in 2023. Lotfi Mounib, Vice President of the Gold and Jewelry Division at the Federation of Egyptian Chambers of Commerce believes that the global and local price outlook remains murky, driven by the US President's uncontrolled and unpredictable statements. He explained that America's move to support the digital currency market increases the chances and probabilities of a rise in the price of gold. The division's deputy head said that the possibility of a price increase is very real, but it is equally likely that prices will decline if the global military conflicts between Russia and Ukraine are resolved, a genuine settlement is reached in Gaza, and the situation in Syria is contained.
See - Sada Elbalad
02-03-2025
- Business
- See - Sada Elbalad
Gold Prices Today: Check Latest Rates in Egypt
Taarek Refaat The price of a 2g quarter pound of gold in Egypt Sunday recorded 8,100 pounds without adding the workmanship. Ehab Wassef, head of the Jewelry & Precious Metals Industry and Mining Division of Egypt revealed that the price of an ounce of gold witnessed a noticeable decline during the past week, as it decreased by $81, with a decrease rate of 2.7%. Gold prices in Egypt: 24 karat 4629 pounds. 21 karat 4050 pounds. 18 karat 3741 pounds. 14 karat 2700 pounds. 8g Gold Coin 32.400 pounds. 31g Ounce: $2.975. Wassef indicated, during the weekly report issued by the Metals Division to monitor the movement of gold globally and locally, that this decline is the largest since November 2024, as it comes after 8 consecutive weeks of continuous increases during which gold recorded record levels. The head of the Gold Division explained that the main reason behind this decline is the rise in the US dollar, which ended three consecutive weeks of declines, indicating that the strength of the dollar negatively affected the price of gold, as the relationship between them is inverse, as the higher the dollar, the lower the price of gold, and vice versa. He also pointed out that gold achieved its highest historical peak last week at $2,956 per ounce, which is an indication of the beginning of a decline phase for profit-taking by investors who benefited from the successive increases during the past weeks. Regarding the performance of gold in Egypt, He explained that the price of gold decreased by about 100 pounds, recording a decline rate of 2.3%, noting that the price of gold in Egypt has become more linked to fluctuations in the global stock market, especially in light of the stability of the dollar exchange rate against the Egyptian pound, which makes the local market more sensitive to global changes. He added that gold in Egypt recorded this decline after a month and a half of continuous gains, as it had witnessed a gradual rise during the past period, and with this decline, Wassef expects that gold in Egypt aims to gather new upward momentum during the coming period, as it may rise again to target levels of 4,100 pounds per gram. Wassef expected that global markets would witness more fluctuations in the coming period, especially with the continued impact of global economic factors, such as the movements of the US dollar, interest rates, and geopolitical tensions.
