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Egyptian gold nears 6,000 pounds
Gold prices in Egypt defy the global decline and remain at high levels near 6,000 Egyptian pounds per gram of 21-karat gold, despite its decrease worldwide. This is due to the rise in the US dollar exchange rate against the Egyptian pound and the geopolitical tensions in the Middle East, which encourage investors to seek safe havens. Domestic demand remains strong, maintaining market stability. Gold in Egypt is considered a cultural indicator and a safe haven, with a noticeable gap between international and local prices. Investors are advised to monitor exchange rates and political developments before making purchases.
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