Gold prices rose strongly during today's trading on Friday to the levels of 2573 dollars per ounce, breaking through its historical levels, achieving a new historical peak.
Gold rose strongly with the decision of the European Central Bank yesterday announcing a cut in interest rates, and we are waiting for the most important news on September 18 next with the US Federal Reserve meeting and the US interest rate decision.
As the interest rate cut represents a positive scenario for gold, the low interest rate environment usually enhances the attractiveness of gold.
On the other hand, gold prices in Egypt rose on Friday with a great strength since yesterday, as the price of 21 carat gold is trading the highest in Egypt Today, friday, September 13, near the levels of 3470 pounds, and we are still looking for more.
24K gold also recorded levels of 3866 pounds and also, 18k gold recorded levels of 2974 pounds.
The dollar prices in Egypt also rose today, which helped the local gold to further gains and rise, as the dollar price in Egypt is trading inside official banks at levels of 48.49 pounds per dollar, and also the dollar price in the parallel market inside Egypt fell to levels of 48.75 pounds per dollar.
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