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Egypt Gold Down 85 Pounds

Egypt Gold Down 85 Pounds

Gold prices in Egypt fell by 85 pounds on Thursday, with 21-karat gold dropping to 6,010 pounds and 24-karat gold to 6,869 pounds. The gold pound was priced at 48,080 pounds. Globally, the ounce fell by $33 to $3,952, pressured by a stronger dollar and rising expectations that the Federal Reserve will raise interest rates, after U.S. inflation rose 0.4% in October. Markets are watching U.S. producer-price data and the Fed’s December meeting for indications of the direction of monetary policy and gold prices.

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