The gold ounce is trading today Friday near the historical peak achieved yesterday, where it is now trading at the levels of 2670 dollars per ounce, and still targeting the levels of 3000 dollars in the long term.
The main monthly Consumer Spending Index, the Fed's preferred indicator for measuring inflation, was released today from the US economy, which fell by 0.1% while expectations were steady at 0.2%, which may cause the US dollar to decline again and gold to gain further gains.
The price of gold continues to reach record levels almost daily, with the precious metal benefiting from continued optimism about interest rate cuts in the United States, and the low interest rate environment usually enhances the attractiveness of the precious metal.
On the other hand, gold prices in Egypt declined slightly, as the price of 21-karat gold is trading the highest in Egypt Today, Friday, September 27, near the levels of 3613 pounds.
24-karat gold also recorded levels of 4129 pounds, and 18-karat gold also recorded levels of 3097 pounds.
The dollar price in Egypt also declined inside official banks today to reach levels of 48.45 pounds per dollar, also the dollar price in the parallel market inside Egypt rose to levels of 48.70 pounds per dollar, which led to the decline of gold in Egypt this slight decline.
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