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Egypt gold prices fall 60 pounds weekly
Gold prices in Egypt have decreased by approximately 60 Egyptian pounds, with the Yara 21-karat gold price dropping to 6,265 pounds. This decline occurred over the past week amid increasing US economic pressures, as US Treasury yields rose and inflation data showed a rise in price indices. These factors strengthened expectations that the Federal Reserve will continue its cautious monetary policy, while the global ounce price fell by 1.8%. Despite this, geopolitical factors and inflation tensions continue to support gold in the long term. Additionally, the appreciation of the dollar and expectations regarding interest rate decisions have influenced the local market and trading of the precious metal.
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