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Gold prices rise in Egypt
Gold prices in Egypt experienced a clear increase today, Friday, August 7, following a three-day upward trend. The gold pound rose by approximately 1,000 Egyptian pounds, and the 21-karat gold, the most traded, reached levels higher than at the beginning of the week. This rise is attributed to several factors, most notably the ongoing global increase in gold prices, growing demand for safe-haven assets, market tensions awaiting the U.S. Federal Reserve's decision on interest rates, and fluctuations in the US dollar exchange rate. Market experts anticipate that gold prices will continue to rise if the Federal Reserve decides to cut interest rates, supporting a continued upward wave in the coming period.
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