Gold prices rose globally today, Thursday, October 24, after yesterday's strong declines, which were a result of the strength of the US dollar and the rise in Treasury yields, gold is trading today at the levels of 2737 dollars, as it is trading near its record levels achieved yesterday at the levels of 2758 dollars per ounce, and we still expect further growth in the coming period.
Political uncertainty and concerns about US government debt, as well as geopolitical tensions in Gaza and Lebanon and the possibility of a tax on Iran by the Zionist entity in the coming days, all this enhances the attractiveness of gold as a safe haven, but if the market's focus shifts to the prospects of a gradual easing cycle by the Federal Reserve or a temporary pause in the interest rate reduction cycle, this may push gold investors to take profits and we are currently at record highs for gold.
On the other hand, gold prices in Egypt rose on Thursday after yesterday's declines, as the price of the 21st highest traded gold in Egypt is trading near the levels of 3738 pounds.
The price of 24-carat gold also rose on Thursday to levels of 4272 pounds, and 18-carat gold recorded levels of 3204 pounds per gram.
It is worth mentioning that the dollar price in Egypt inside the official banks rose today to trade near the levels of 48.84 pounds, with the dollar price rising in the parallel market inside Egypt to the levels of 49.03 pounds.
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