20 Hrs
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المصري اليوم
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Source: المصري اليوم
20 Hrsالمصري اليوم
Source: المصري اليوم
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The deputy head of the Gold and Jewelry Division said that the Central Bank of Egypt’s decision to raise interest rates by one percentage point—to 20% for deposits and 21% for lending—would not, on its own, be enough to curb gold’s appeal or bring about a significant and sustained decline in prices. He explained that the dollar’s roughly 10% rise to more than 56 pounds, together with inflationary pressures, supports domestic gold prices and reduces the real return on savings if inflation outpaces the rate increase. Gold’s direction will depend on the global price of the metal, exchange-rate movements, inflation expectations, and the degree of economic stability.
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