Gold futures rose during the Asian trading period on Wednesday near the levels of 2525 dollars per ounce, approaching the highest levels in history. Today, the markets are waiting for the release of US inflation data represented by the Consumer Price Index (CPI) for August, which investors are waiting for to clarify the upcoming Federal Reserve policy and its plan to reduce interest rates.
Expectations indicate that if the inflation data is declining, it may give the Fed more confidence that inflation is moving towards 2% sustainably, which may prompt them to support a 50 basis point cut, but if the inflation data is higher than expected, they will probably agree on a 25 basis point cut on September 18.
A low interest rate environment usually enhances the attractiveness of gold.
On the other hand, gold prices rose in Egypt Today, Wednesday, as the price of 21 carat gold is trading the highest in Egypt Today, Wednesday, September 11, near the levels of 3400 pounds.
24K gold also recorded levels of 3886 pounds and also, 18k gold recorded levels of 2914 pounds.
While the dollar price in Egypt declined slightly today, as the dollar price in Egypt within the official banks recorded levels of 48.41 pounds per dollar, the dollar price in the parallel market inside Egypt also fell to levels of 48.67 pounds per dollar.
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