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Market Update: Gold, Dollar Up; Oil Hits $95; Wheat Prices Rise
Financial and commodity markets experienced noticeable gains, with gold prices in Egypt rising by 90 pounds per gram due to fluctuations in the global market, changes in the international ounce price, and the movement of the dollar against the Egyptian pound. Additionally, the dollar rate in Egyptian banks increased by 4 piasters to approximately 51.3 pounds, which directly affected gold prices. Moreover, global wheat prices surged due to escalating tensions in the Black Sea and crop deterioration. Oil prices surpassed $95 per barrel for the first time since June 11, driven by increased confrontation between the United States and Iran and rising concerns over energy supplies.
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