Gold prices today after Fed decision
Gold prices in the Egyptian market rose today, Thursday, coinciding with a global surge in gold prices following the U.S. Federal Reserve's decision to raise interest rates by 0.25% to a range between 3.75% and 4.00%. The price of 24-carat gold reached approximately 7,234 Egyptian pounds per gram, while the more widely followed 21-carat gold stood at 6,330 pounds. The price of the gold pound was 50,400 pounds. On the international level, gold prices approached $4,345 an ounce after market expectations regarding monetary policy. Although higher interest rates typically lead to a decrease in gold prices, ongoing inflationary pressures, rising energy costs, and geopolitical tensions have contributed to the continued increase in the yellow metal. The impact of U.S. interest rates on gold is related to the relationship between yields and the dollar, as higher rates increase the cost of holding gold. However, fluctuations are also influenced by investor assessments of economic and political expectations.
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