World gold prices rose on Monday near our targets at the levels of 2630 dollars per ounce, achieving a new historical peak today and we are still targeting the levels of 3000 dollars in the long term.
The price of gold continued to climb to record highs, with the precious metal benefiting from continued optimism about interest rate cuts in the United States, as interest rate cuts represent a positive scenario for gold in the medium and long term, and the low interest rate environment usually enhances the attractiveness of the precious metal.
More signals from the Fed and the US economy are scheduled to come out this week, as we will have a talk with Fed Governor Jerome Powell next Thursday.
On the other hand, gold prices have risen in Egypt, where the price of 21 carat gold is trading the highest in Egypt Today, Monday, September 23, near the levels of 3550 pounds.
24-karat gold also recorded levels of 4057 pounds, and 18-karat gold also recorded levels of 3043 pounds.
The dollar price in Egypt within the official banks also rose slightly today to reach the levels of 48.63 pounds per dollar, also the dollar price in the parallel market inside Egypt rose to the levels of 48.87 pounds per dollar.
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