Gold prices rose during trading on Friday to the levels of 2,700 dollars per ounce, as investors sought safe-haven assets, especially with the intensification of market concerns about the conflict between Russia and Ukraine.
Although the strength of the US dollar has reduced the relative demand for gold due to the fact that gold and the dollar are safe havens.
At the same time, the markets continued to assess the Fed's monetary policy outlook after the US unemployment benefit applications unexpectedly fell, which added to speculation about a slower pace of interest rate cuts by the Fed, as the markets are now pricing at 60% that the Fed will cut interest rates by 25 basis points next December.
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 3770 pounds.
The price of 24-karat gold also rose today to levels of 4309 pounds, and 18-karat gold recorded levels of 3231 pounds per gram.
The price of the goldsmith's dollar fell today in Egypt near the levels of 49.70 pounds, while we witnessed a slight decline in the dollar price inside official banks today at the levels of 49.73 pounds, and also the dollar price in the parallel market inside Egypt declined to reach the levels of 50.00 pounds.
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