Gold prices fell today, Wednesday, October 9, to below USD 2,620 per ounce, amid calming tensions in the Middle East Gold, as markets reduced their long bets on the precious metal as the unrest in the Middle East moved a little away from the spotlight and investors felt more confident in the continued rise of global stocks and other risk assets.
The markets are waiting today for the minutes of the Federal Reserve's latest monetary policy meeting and economic data to draw insights on the course of US interest rates, with the prospects of a significant interest rate cut fading, especially after the US non-farm payrolls report was released more positively than expected last week.
On the other hand, gold prices in Egypt fell on Wednesday, as the price of the 21st highest traded gold in Egypt is trading near the levels of 3560 pounds.
Today, 24-karat gold recorded levels of 4069 pounds, and 18-karat gold recorded levels of 3051 pounds per gram.
The dollar price in Egypt also rose within the official banks today near the levels of 48.65 pounds per dollar, with the dollar price rising in the parallel market inside Egypt, which recorded levels of 48.88 pounds per dollar.
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