22 Hrs
Source:
السويس بلدي
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Gold steady locally; global prices fall 0.7%
Gold prices remained stable in the local market today, Saturday, following a decline of approximately 0.7% over the week due to rising inflation fears in the United States and the possibility of the US Federal Reserve raising interest rates. The price of 21-karat gold per gram reached about 6,250 Egyptian pounds, while the global price of an ounce decreased by around $30, opening at $4,195 and closing at $4,165. Factors such as the rising dollar exchange rate, which exceeded 53.65 pounds, and expectations of the Federal Reserve's monetary tightening, influence the fluctuations in gold prices, with rising US inflation data impacting market movements.
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