Gold rose today, Tuesday, October 15, near the levels of 2655 dollars per ounce amid increasing geopolitical risks, as gold prices fell yesterday close to 2635 dollars.
China has conducted intensive exercises around Taiwan, deployed a record number of military aircraft, and announced for the first time the deployment of the coast guard to encircle the island, the reports said.
At the same time, the markets are waiting for more signals about the Fed's interest rate path, including retail sales reports and speeches by several Fed officials.
What helped gold to stabilize was that investors lowered their expectations for the size of further interest rate cuts in the United States after the jobs and inflation reports last period.
On the other hand, gold prices in Egypt did not move much on Tuesday, as the price of the 21st highest traded gold in Egypt is trading near the levels of 3592 pounds.
Also, 24-karat gold is trading today to levels of 4105 pounds, and 18-karat gold recorded levels of 3079 pounds per gram.
Also, the dollar rate in Egypt inside official banks today did not move much and is still trading at levels of 48.60 pounds per dollar, with a slight increase in the dollar rate in the parallel market inside Egypt, which recorded levels of 48.90 pounds per dollar.
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