Gold prices fell globally today, Friday, October 25, with the end of the week trading near the levels of 2720 dollars per ounce, as there were sell-offs for short-term investors seeking to take profits, and constant demand from investors committed to buying gold at dips.
The upcoming US elections are still dominating the markets, which leads to uncertainty, and with rising geopolitical tensions that keep the longer-term outlook for safe assets such as gold positive, the recent decline will be a temporary phase.
On the other hand, gold prices in Egypt fell on Friday, as the price of the 21st highest traded gold in Egypt is trading near the levels of 3830 pounds.
The price of 24-karat gold also fell on friday to levels of 4263 pounds, and 18-karat gold recorded levels of 3197 pounds per gram.
It is worth mentioning that the dollar price in Egypt inside the official banks rose today to trade near the levels of 48.85 pounds, with the dollar price rising in the parallel market inside Egypt to the levels of 49.11 pounds.
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