After more than a week of losses, gold futures settled at 2573.00 dollars per ounce, retreating from the all-time high of 2801.80 dollars per ounce set in late October. Gold prices fell due to the significant rise of the US dollar since Donald Trump won the US presidential election, along with uncertainty about the pace of interest rate cuts by the Federal Reserve.
Traders now see a 58% chance that interest rates will be cut again in December by 25 basis points.
Today we are waiting for the US economy, US retail sales.
On the other hand, gold prices rose in Egypt Today, Friday, where the price of the 21st highest traded gold in Egypt is trading near the levels of 3570 pounds.
The price of 24-karat gold also rose today to levels of 4080 pounds, and 18-karat gold recorded levels of 3060 pounds per gram.
The price of the goldsmith's dollar in Egypt also fell near the levels of 49.40 pounds, while the dollar price inside official banks rose today to the levels of 49.43 pounds, the dollar price also rose in the parallel market inside Egypt near the levels of 49.65 pounds.
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