Global gold prices rose in Asian trading during today's trading on Tuesday, recovering from yesterday's losses, in which the precious metal achieved the lowest levels of 2370 dollars per ounce, to return today and make some upward corrections towards the levels of 2390 dollars per ounce, with markets focusing on the Federal Reserve meeting tomorrow, Wednesday, July 31, and it is expected that the Fed will fix the interest rate as it is, as the Fed prefers to see more data indicating a sustainable decline in inflation.
Gold prices rose locally in Egypt during today's trading on Tuesday, as the price of gold started in morning trading at levels of 3265 pounds per gram of 21 caliber, which is the best-selling in Egypt, but it returned to rise again and recorded a price of 3275 pounds, after yesterday's decline as a result of the global gold decline.
This comes in light of the correlation of the local price with the movement of the global gold ounce price during the recent period, and with the absence of local pricing factors, especially with the stability of the local dollar exchange rate.
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