Gold prices fell globally on Monday, October 28, with the start of the week trading with easing risks in the Middle East, as the week opened on a downward price gap following the Israeli strikes on Iran over the weekend, which were more restrained than expected.
Israeli jets targeted military sites across Iran on Saturday, avoiding oil and nuclear facilities, and Tehran did not immediately pledge to retaliate.
However, the uncertainty surrounding the US elections and other easing measures by major central banks continues to support gold.
On the other hand, gold prices in Egypt fell on Monday, as the price of 21 carat gold, the highest traded in Egypt, is trading near the levels of 3825 pounds.
The price of 24-carat gold also fell on Monday to levels of 4257 pounds, and 18-carat gold recorded levels of 3193 pounds per gram.
The dollar rate in Egypt also declined inside the official banks today to trade near the levels of 48.75 pounds, while the dollar rate in the parallel market inside Egypt also declined to the levels of 49.05 pounds.
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