Global gold prices fluctuated on Wednesday between ups and downs after the precious metal reached its historical peak with the start of trading this week near the levels of 2589.50 dollars per ounce.
Today we are waiting for the most important data of this week and almost the month, namely the results of the Federal Reserve meeting, and we see how much the Fed will cut interest, and after this meeting it is possible to expect gold movements in the coming period significantly.
It is known that the interest rate cut is taken for granted during this meeting, and the question now is whether the interest rate will be reduced by 25 points or 50 basis points.
But mostly interest rate cuts represent a positive scenario for gold in the medium and long term, and a low interest rate environment usually enhances the attractiveness of gold.
On the other hand, gold prices in Egypt Today, Wednesday, are still about the same as yesterday's prices, as the price of the 21st highest traded gold in Egypt is trading today, Wednesday, September 18, near the levels of 3465 pounds.
24K gold also recorded levels of 3960 pounds and also, 18k gold recorded levels of 2970 pounds.
But the dollar rate in Egypt within the official banks rose today to the levels of 48.55 pounds per dollar, while the dollar rate did not move in the parallel market inside Egypt and is still trading at the levels of 48.74 pounds per dollar.
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