Gold rose globally today, Tuesday, October 22, near the record levels achieved yesterday at the levels of 2740 dollars per ounce and we still expect further ascent in the coming period, as gold prices are hovering around their highest level ever amid increasing global uncertainty about the US elections, growing tensions in the Middle East and expectations of central banks to cut interest rates.
Gold's rise comes despite the strength of the dollar and benchmark 10-year Treasury bond yields to a 12-week high in the last session, while the dollar clung to a two-and-a-half-month high on Tuesday.
On the other hand, gold prices rose in Egypt Today, Tuesday, where the price of the 21st highest traded gold in Egypt is trading near the levels of 3730 pounds.
The price of 24-karat gold also rose on Tuesday to levels of 4263 pounds, and 18-karat gold recorded levels of 3197 pounds per gram.
It is worth mentioning that the dollar price in Egypt inside the official Banks has not moved much today, as the dollar price is still trading near the levels of 48.71 pounds, with the dollar price in the parallel market inside Egypt to the levels of 48.96 pounds.
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