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المصري اليوم
Gold prices rise on August 31 2026
Gold prices remain steady today, Monday, August 31, 2026, in the Egyptian market, with the 21-karat gold reaching approximately 6,330 Egyptian pounds before taxes and manufacturing fees. Meanwhile, the global gold price has slightly increased by 0.2%, reaching $4,464.65 per ounce. This comes amidst pressures from rising U.S. interest rates, which are expected to continue, as well as higher oil prices, both of which exert downward pressure on gold, a non-yielding asset. The hawkish statements from the Federal Reserve Chairman regarding inflation have led investors to anticipate further interest rate hikes, causing gold to drop by 3.2% last Friday. Markets are also awaiting U.S. employment and inflation data to determine the next course of monetary policy.
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