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Gold prices fall on October 8th
Gold prices in Egypt today, Thursday, October 8, 2026, have decreased, with 24-karat gold priced at approximately 6,982 Egyptian pounds and 21-karat gold around 6,110 pounds. There was a noticeable decline during evening trading, despite an increase in prices earlier in October compared to late September. The price of gold is influenced by the repercussions of the US-Israeli war on Iran, which has led to oil prices exceeding $100 per barrel, fueling expectations of rising inflation. Additionally, the US Federal Reserve's decision to raise its key interest rate to between 3.75% and 4% for the first time in three years reflects economic pressures and inflation concerns, causing gold prices to decline.
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