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Gold prices in the local market experienced a decline of about 300 Egyptian pounds per gram over the course of a week, influenced by a $149 decrease in global gold prices and a drop in market expectations of a US interest rate cut. Specifically, the price of 21-karat gold per gram fell from 6,600 pounds at the beginning of the week to 6,300 pounds at the end, while the spot price of an ounce decreased to $4,455. This decline resulted from profit-taking sell-offs and reactions to international market developments and economic data that could impact the US Federal Reserve's monetary policy.
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