Egypt Gold Division predicts ounce price if war ends

The head of the Gold Division in Egypt expects the price of an ounce to reach $4,400, supported by improved political and economic conditions in the Middle East and relatively stable oil prices, along with ongoing investment demand for gold as a hedge against global financial volatility. This comes amid market anticipation of a series of major events, most notably the signing of a comprehensive peace agreement in the region and the upcoming meeting of the U.S. Federal Reserve Board, where decisions regarding interest rate hikes or stability could impact the movement of the precious metal.

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