Gold prices rose globally on Tuesday after falling yesterday near the levels of 2625 dollars per ounce, but it returned to rise today due to geopolitical tensions and the land income of the Zionist entity in southern Lebanon, amid expectations that the conflict will expand to include Iran soon.
We are waiting this week, specifically next Friday, for very important US data that is expected to affect the movements of gold, namely US jobs data from the government sector, which will largely determine how much the Fed will cut interest next November, whether 25 points or 50 basis points.
The precious metal continues to benefit from continued optimism about interest rate cuts in the United States, and a low interest rate environment usually enhances the attractiveness of the precious metal.
On the other hand, gold prices in Egypt rose slightly today, as the price of 21-karat gold is trading the highest in Egypt Today, Tuesday, October 1, near the levels of 3565 pounds.
24-karat gold also recorded levels of 4074 pounds, and 18-karat gold also recorded levels of 3056 pounds per gram.
The price of the dollar in Egypt inside the official banks also declined today to reach the levels of 48.30 pounds per dollar, also the price of the dollar in the parallel market inside Egypt fell down to the levels of 48.60 pounds per dollar.
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