Gold prices stabilized globally during the Asian trading period on Tuesday, November 5, to stabilize the prices of the precious metal currently near the levels of 2740 dollars per ounce, as gold is fluctuating for the second day in a row as the markets prepare for the US presidential elections, which have already begun now and some states have begun to open polling stations.
The focus this week will be on the US presidential election and also the Federal Reserve's monetary policy announcement next Thursday, with markets widely expecting a quarter-point cut.
In addition, expectations of interest rate cuts from other major central banks may give additional support to the attractiveness of gold.
On the other hand, gold prices in Egypt rose on Tuesday, with the price of 21 carat gold, the highest traded in Egypt, trading near the levels of 3825 pounds.
The price of 24-karat gold also rose today to levels of 4371 pounds, and 18-karat gold recorded levels of 3279 pounds per gram.
The price of the goldsmith's dollar in Egypt also rose to the levels of 49.70 pounds, boosting the price of gold in Egypt, and the dollar rose inside the official banks today near the levels of 49.15 pounds, with the dollar price also rising in the parallel market inside Egypt to the levels of 49.40 pounds.
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