23 Hrs
Source:
المصري اليوم
Gold stability and war impact prices
Gold prices in the local market have stabilized after a wave of increases due to instability in global markets. The price of 21-karat gold registered around 6,250 Egyptian pounds. This is attributed to the effects of the US-Iran war, the Russia-Ukraine conflict, tensions in the Strait of Hormuz, as well as rising oil prices, which could lead to higher inflation and negatively impact gold prices. It is expected that prices will be influenced by the escalation of tensions and conflicts, as well as by interest rate decisions, as investors tend to buy gold as a safe haven during times of increased risks and geopolitical tensions.
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