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بوابة أخبار اليوم
Gold prices dip slightly before Fed speech
Gold prices worldwide declined today, with the ounce trading at around $4,023 after starting the session near yesterday's closing level of $4,026, ahead of the upcoming statements from the U.S. Federal Reserve Chairman that will clarify the direction of monetary policy. The price of gold has an inverse relationship with interest rates; it tends to rise when rates are lowered and fall when they are raised, affecting demand for the precious metal. In the Egyptian domestic market, the price of 21-karat gold remained at approximately 5,860 EGP after a decrease of about 80 EGP yesterday, due to the global decline in the ounce price and fluctuations in the dollar.
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