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Silver drops 3% in week to 105 pounds
Silver prices domestically decreased by 2.89% over the past week, influenced by geopolitical tensions and the rise in the US dollar. The price of 999-grade silver reached approximately 104.9 Egyptian pounds, compared to 108.02 pounds at the beginning of the week, while the global ounce was around $66. This reflects an unstable balance between international factors, such as escalating tensions with Iran and expectations regarding US interest rates, and local factors, including exchange rates and the widening gap between global and domestic prices. The Federal Reserve’s decisions regarding interest rates will determine the future of silver prices and directly impact both the global and local markets.
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