Global gold prices fell during today's trading on Monday near the levels of 2490 dollars per ounce, global gold prices fell during these moments of Monday's trading, as the markets are waiting this week for the release of US inflation data represented by the Consumer Price Index (CPI) for August, scheduled for release on Wednesday, followed by the producer price index (PPI) on Thursday to strengthen their bets on the size of the possible reduction of interest rates by the Fed.
Markets now expect a 69% probability of a 25-basis-point interest rate cut at the Fed's September 18 meeting, and a 31% probability of a 50-basis-point cut.
A low interest rate environment usually enhances the attractiveness of gold.
On the other hand, gold prices in Egypt fell on Monday, where the 21st highest traded gold in Egypt on Monday, September 9, recorded declines near the levels of 3890 pounds.
24K gold also recorded levels of 3876 pounds and also, 18k gold recorded levels of 2905 pounds.
The price of gold in Egypt has fallen as a result of the decline in the global gold price, and also the dollar price has fallen in Egypt Today, where the dollar price in Egypt within Official banks recorded levels of 48.45 pounds per dollar, also the dollar price in the parallel market inside Egypt has fallen to levels of 48.71 pounds per dollar.
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