World gold prices fell during today's trading on Wednesday near the levels of 2505 dollars per ounce, after yesterday achieving a new historical peak at the levels of 2531.5 dollars per ounce.
Gold is still a candidate for further rise globally with increasing geopolitical tensions and the failure to reach a ceasefire agreement between the Zionist entity and Hamas, and the possibility of expanding the conflict if these negotiations fail, as well as the readiness of the US Federal Reserve to cut interest next month and end the tightening period, may make gold vulnerable to further rise in the coming period.
It is worth noting that today evening we have the minutes of the US Federal Reserve meeting, and next Friday we are also waiting for the speech of Fed Chairman Jerome Powell at the Jackson Hole seminar.
On the other hand, gold prices in Egypt fell today, Wednesday, August 21, almost 10 pounds, as the 21st highest traded gold in Egypt recorded levels at 3475 pounds to buy, despite the dollar rising slightly against the Egyptian pound locally, where the dollar price in the parallel market recorded levels of 49.17 pounds per dollar, and the dollar price in official banks rose at levels of 49.92 pounds per dollar.
The following link provides an analysis of the dollar index globally against a basket of major currencies
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