Gold drops 35 pounds to 6275 pounds

Gold prices in the local market declined today, Thursday, by 35 Egyptian pounds, bringing the price of a 21-karat gram to 6,275 pounds. This comes amid a global downturn caused by a drop in the ounce price and market concerns over continued inflationary pressures. Investment experts recommend gradually purchasing gold at appropriate levels, especially for long-term investors, while keeping an eye on the impact of rising oil prices and developments in U.S. monetary policies. In international markets, gold fell by more than 1% amid rising fears of persistent inflation and rising oil prices, which could lead to continued US monetary tightening and its effect on the yellow metal's prices.