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المصري اليوم
Gold prices challenge expectations worldwide
Gold prices experienced a global surge of over 1%, reaching $4,363 per ounce, despite strong U.S. inflation data that suggests the Federal Reserve may raise interest rates next week. The rise in oil prices and declining demand in India continue to fuel inflation concerns, even though demand for gold remains robust in China. In Egypt, gold prices fluctuate rapidly, with the 21-karat gold price ranging between 6,270 and 6,310 Egyptian pounds. Market expectations also indicate that the Federal Reserve is likely to continue raising interest rates, which could reduce the attractiveness of the precious metal.
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