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Egypt gold prices rise on global shifts
Gold prices in Egypt rose today due to the global increase in the price of an ounce, as markets await the future of U.S. monetary policy and the possibility of maintaining high interest rates. The price of a gram of 24-karat gold reached approximately 6,874.25 Egyptian pounds, while the more widely traded 21-karat gold hit 6,015 pounds. The 18-karat gold was priced at about 5,155.75 pounds, and the price of a gold pound increased to 48,120 pounds. This comes alongside expectations from Goldman Sachs of a roughly $500 decline in gold prices per ounce, due to the continued rise in U.S. interest rates and its impact on the attractiveness of gold as an investment.
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