Global gold prices rose today, Tuesday, October 29, above the levels of 2750 dollars per ounce today, to return near its record levels at 2758.50 dollars per ounce, as markets refocused on a set of US economic data this week.
The most important key data this week are inflation in personal consumption expenditures, advance estimates of GDP for the third quarter, payroll figures, ahead of the presidential election and the Fed's monetary policy decision next week.
The markets have priced in a 98% probability of a 25 basis point federal funds rate cut.
However, the uncertainty surrounding the US elections and other easing measures by major central banks continues to support gold.
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 3737 pounds.
The price of 24-carat gold also rose on Tuesday to levels of 4271 pounds, and 18-carat gold recorded levels of 3203 pounds per gram.
The dollar price in Egypt also declined slightly inside the official banks today to trade near the levels of 48.74 pounds, with the dollar price also declining in the parallel market inside Egypt to the levels of 48.99 pounds.
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