Gold prices rose during the Asian trading period on Thursday near the levels of 2520 dollars per ounce, and are still trading near their highest levels in history, but bets on an interest rate cut by 50 basis points declined significantly after the release of inflation data yesterday, where the core consumer price index showed higher-than-expected levels for August, and it is now widely expected that the Fed will cut interest by 25 basis points on September 18.
However, the prospect of a rate cut remains a positive scenario for gold, as the low interest rate environment enhances the attractiveness of gold as a safe haven.
On the other hand, gold prices rose in Egypt Today, Thursday, with the 21st highest traded gold price in Egypt Today, Thursday, September 12, near the levels of 3400 pounds.
24K gold also recorded levels of 3886 pounds and also, 18k gold recorded levels of 2914 pounds.
While the dollar prices in Egypt have almost stabilized today, as the dollar price in Egypt is trading within Official banks at the levels of 48.42 pounds per dollar, and also the dollar price in the parallel market inside Egypt has fallen to the levels of 48.67 pounds per dollar.
For more follow-up and real-time prices, you can visit our website from here
You can download our application from Google Play and Apple Store here
