World gold prices rose on Thursday near the levels of 2585 dollars per ounce, after the precious metal achieved a new historic peak yesterday near the levels of 2600 dollars per ounce with the release of the US interest rate decision, where the Federal Reserve cut interest 50 basis points as the markets expected.
The point chart data also indicates that the Fed will cut interest rates at the November-December meeting by 25 basis points per meeting.
As interest rate cuts represent a positive scenario for gold in the medium and long term, a low interest rate environment usually enhances the attractiveness of the precious metal.
On the other hand, gold prices in Egypt have risen strongly, as the price of 21-karat gold is trading the highest in Egypt Today, Thursday, September 19, near the levels of 3490 pounds, and yesterday reached the highest levels of 3500 pounds at the time of the decision.
24K gold also recorded levels of 3989 pounds and also, 18k gold recorded levels of 2991 pounds.
The price of the dollar in Egypt also rose slightly within the official banks today to the levels of 48.60 pounds per dollar, while the price of the dollar also rose in the parallel market inside Egypt and is still trading at the levels of 48.85 pounds per dollar.
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