1 Day
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بوابة الشروق
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Gold falls 80 pounds in two days
The gold prices in Egypt have declined for the second consecutive week, with the 21-karat gold, the most traded, dropping by 80 Egyptian pounds over two days to reach 5,860 pounds. This decline was influenced by a global decrease in gold prices resulting from reduced geopolitical tensions between the United States and Iran, as well as market anticipation of the U.S. Federal Reserve's decisions regarding interest rates. According to "iSaghah" platform, investors are awaiting the outcome of the upcoming meeting, which may keep interest rates at their current level, with a 66.3% expectation of no change. The Egyptian market remains cautious, with expectations that the local gold price for 21-karat may fluctuate between 5,800 and 5,900 pounds, as the influence of a strong dollar and improved U.S. economic data continues to impact short-term prices.
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