Global gold prices fell strongly near the levels of 2550 dollars per ounce on Thursday, recording the lowest levels of gold in three months, especially after yesterday's positive inflation data, and we are waiting today for the producer price index expected to be positive as well.
The market's pricing rate for the interest rate cut in the coming December rose 25 basis points by almost 80%.
US bond yields and the US dollar are still on strong highs since Trump's victory in the US presidential election.
On the other hand, gold prices in Egypt fell on Thursday, as the price of the 21st highest traded gold in Egypt is trading near the levels of 3560 pounds.
The price of 24-karat gold also fell today by more than 100 pounds to reach levels of 4070 pounds, and 18-karat gold recorded levels of 3051 pounds per gram.
The price of the dollar minted in Egypt is still trading steadily near the levels of 49.70 pounds, while the dollar price inside official banks rose today to the levels of 49.40 pounds, the dollar price in the parallel market inside Egypt also rose to the levels of 49.60 pounds.
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