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Experts Discuss Gold Price Outlook
The price of gold in Egypt has decreased by approximately 16% since the beginning of June, dropping from over 6,000 pounds per gram to around 5,620 pounds, marking the lowest level since December of last year. The strengthening of the dollar against global currencies and expectations of a US interest rate hike have increased pressure on gold prices both globally and locally, with ongoing forecasts suggesting a decline to even lower levels before signs of a potential trend reversal emerge.
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