Global gold prices rose on Friday near the levels of 2607 dollars per ounce, after the precious metal achieved a new historic high today and gold is still targeting the levels of 2630 dollars per ounce in the near term, and the levels of 3000 dollars in the long term.
The price of gold continued to reach record highs, especially after the decision of the US Federal Reserve to cut interest rates by 50 basis points, which pushed the precious metal higher.
As interest rate cuts represent a positive scenario for gold in the medium and long term, a low interest rate environment usually enhances the attractiveness of the precious metal.
On the other hand, gold prices in Egypt have risen strongly , as the price of 21 carat gold is trading the highest in Egypt Today, Friday, September 20, near the levels of 3525 pounds.
24K gold also recorded levels of 4029 pounds and also, 18k gold recorded levels of 3021 pounds.
The dollar rate in Egypt is also trading steadily within Official banks today at levels of 48.60 pounds per dollar, also the dollar rate in the parallel market inside Egypt is still trading at levels of 48.85 pounds per dollar.
For more follow-up and real-time prices, you can visit our website from here
You can download our application from Google Play and Apple Store here
