Gold prices settled on Thursday near the levels of 2645 dollars per ounce, after a sharp decline at the beginning of the week.
The ceasefire agreement between Lebanon and the entity has reduced tensions and reduced the demand for Safe Haven, as gold tends to trade sideways currently between ups and downs.
Despite this decline that occurred at the beginning of the week, the precious metal is still supported and has strong demand levels at lower levels, as renewed tensions in the Middle East or Russia, Ukraine, as well as China and Taiwan are still possible to ignite the fire quickly, as well as continued low inflation and interest rate cuts in major economies are expected to raise demand from investors, providing support for gold prices, and pushing prices to rise again next year.
On the other hand, gold prices in Egypt rose slightly on Thursday, as the price of the 21st highest traded gold in Egypt is trading near the levels of 3680 pounds.
The price of 24-karat gold also rose today to levels of 4206 pounds, and 18-karat gold recorded levels of 3154 pounds per gram.
Also, we witnessed a slight increase in the price of the dollar minted today in Egypt near the levels of 49.50 pounds, and the dollar price inside official banks also rose today trading at the levels of 49.75 pounds, and also the dollar price in the parallel market inside Egypt at the levels of 49.98 pounds.
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