Gold prices fell during the beginning of the week on Monday, and gold futures fell by 0.7% to 2675.40 dollars per ounce.
Gold experienced sharp selling after the victory of Donald Trump in the US presidential election, despite this, gold is considered a good bet to enter in 2025 despite the price reset after the election.
The Fed also cut interest rates last week by 25 basis points as expected, and market expectations now indicate that the Fed may slow down and reduce the pace of interest rate cuts, as Trump's policies focused on raising tariffs, tax cuts and deregulation are expected to expand the deficit and stimulate inflation.
However, investors estimate a 68% probability of another interest rate cut of 25 basis points in December.
On the other hand, gold prices in Egypt fell on Monday, as the price of the 21st highest traded gold in Egypt is trading near the levels of 3710 pounds.
The price of 24-karat gold also fell today to levels of 4240 pounds, and 18-karat gold recorded levels of 3180 pounds per gram.
The price of the minted dollar also fell strongly in Egypt to the levels of 49.60 pounds, but the dollar price inside official banks rose today near the levels of 49.25 pounds, with the dollar price also rising in the parallel market inside Egypt to the levels of 49.55 pounds.
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