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Gold prices rose in Egypt on Wednesday, with 21-karat gold gaining 90 pounds to 6,230 pounds per gram. The 24-karat price reached about 7,120 pounds, while 18-karat gold stood at around 5,340 pounds. The gold pound coin was priced at 49,840 pounds. Globally, gold rose by $125 to $4,047 an ounce, supported by a weaker dollar and lower Treasury yields, as demand for safe-haven assets increased following the results of the U.S. midterm elections and amid ongoing geopolitical concerns. However, expectations of a U.S. interest-rate hike could weigh on prices: traders see roughly a 79% chance of a hike at the December meeting.
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