_1777352142843_145525226.png&w=64&q=75){kind=small}
Egypt gold prices increase by 55 pounds
Gold prices in Egypt and worldwide rose today, Wednesday, due to the decline of the dollar and escalating geopolitical tensions in the Middle East, amid growing concerns over intensified conflict in the region. The price of a 21-karat gold gram increased by 55 Egyptian pounds to reach 6,320 pounds, while the ounce rose by approximately 50 dollars to hit 4,410 dollars. However, the rise in Treasury bond yields and the possibility of a US interest rate hike limited gains in the precious metal, as markets show a 60% likelihood of a 25 basis point increase at the Federal Reserve meeting on September 16. Additionally, concerns over potential disruptions in energy supplies pushed Brent crude oil above $100 per barrel, supporting demand for gold as a safe haven, amid rising inflation pressures and tightening US monetary policy.
Notice: This Is an AI-Generated Summary
Comments (0)