Gold prices fell on Tuesday, as the precious metal fell around the levels of 2600 dollars per ounce, as investors showed more appetite for risky assets, and US bond yields and the dollar also rose sharply after Trump's victory in the US presidential election, as rising bond yields raise the alternative cost of holding non-yielding assets such as gold and silver.
The Fed also cut interest rates last week by 25 basis points as expected, and market expectations now suggest that the Fed may slow down and reduce the pace of rate cuts.
However, investors estimate a 68% probability of another interest rate cut of 25 basis points in December.
On the other hand, gold prices in Egypt fell on Tuesday, as the price of the 21st highest traded gold in Egypt is trading near the levels of 3635 pounds.
The price of 24-karat gold also fell today to levels of 4154 pounds, and 18-karat gold recorded levels of 3116 pounds per gram.
The price of the goldsmith's dollar in Egypt is also trading to the levels of 49.70 pounds, and the dollar price did not move inside the official banks today and is still trading at the levels of 49.25 pounds, also the dollar price in the parallel market inside Egypt is trading near the levels of 49.55 pounds.
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
