Global gold prices fluctuated during today's trading on Tuesday near the levels of 2500 dollars per ounce, as the markets are waiting this week for the release of US inflation data represented by the Consumer Price Index (CPI) for August, scheduled for release on Wednesday, followed by the producer price index (PPI) on Thursday to strengthen their bets on the size of the possible reduction of interest rates by the Fed, and we may see ups and downs and trading in a tight range in anticipation of these strong data.
A low interest rate environment usually enhances the attractiveness of gold.
As it is expected that inflation data will reflect further slowdown and give the green light to the US Federal Reserve to significantly reduce the expected interest, gold prices are expected to remain well supported above the level of 2500 dollars, and expectations indicate that it will rise further towards the levels of 2660 dollars in the coming months.
On the other hand, gold prices in Egypt Today, Tuesday, remain at almost the same levels as yesterday, as the price of the 21st highest traded gold in Egypt is trading today, Tuesday, September 10, near the levels of 3890 pounds.
24K gold also recorded levels of 3875 pounds and also, 18k gold recorded levels of 2905 pounds.
While the dollar price declined in Egypt today, as the dollar price in Egypt within the official banks recorded levels of 48.42 pounds per dollar, the dollar price in the parallel market inside Egypt also fell to levels of 48.68 pounds per dollar.
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