The price of gold in Egypt Today, Wednesday, December 11, 2024
The global price of gold
Gold futures rose to the levels of 2725 dollars per ounce ahead of the release of US inflation data.
The figures are expected to confirm the Fed's decision on cutting interest rates for December, as the markets expect about 86% of the prospects for a rate cut.
Prices for the precious metal are also supporting safe-haven demand amid geopolitical tensions and the resumption of gold purchases by the Chinese central bank after a six-month pause.
Geopolitical shocks, including tariffs, usually strengthen gold and the dollar.
The price of gold in Egypt
On the other hand, the price of gold in Egypt rose today, Wednesday, where the price of the highest traded 21-karat gold in Egypt is trading near the levels of 3820 pounds.
The price of 24-karat gold also rose today at levels of 4366 pounds, while 18-karat gold recorded levels of 3274 pounds per gram.
The price of the dollar minted in Egypt is still trading near the levels of 50.40 pounds, while the dollar rate inside official banks declined today to reach the levels of 50.67 pounds, and the dollar price in the parallel market inside Egypt did not move from the levels of 51 pounds.
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