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Gold dips in Egypt before Fed decision
Gold prices rose today after declining in the previous session, supported by a modest improvement in global prices and investors' anticipation of the U.S. Federal Reserve's decision and its impact on the market. In the local Egyptian market, the price of a gram of 24-karat gold reached approximately 6,691 pounds, while 21-karat gold was around 5,855 pounds. The exchange rate of the U.S. dollar remained stable at 50.70 pounds. Meanwhile, geopolitical tensions and demand for gold as a safe haven suggest expectations of price flexibility for the yellow metal in the long term, especially given the potential weakening of the dollar following Federal Reserve signals of a less aggressive policy.
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