Global gold prices rose on Wednesday, achieving a new historical peak near the levels of 2670 dollars per ounce, and we are still targeting the levels of 3000 dollars in the long term.
More signals from the Fed and the US economy are scheduled to be released this week, as we will have a talk to Fed Governor Jerome Powell next period.
The price of gold continued to reach record highs, and almost every day during this week it achieves new record highs as the precious metal benefits from continued optimism about interest rate cuts in the United States, as interest rate cuts represent a positive scenario for gold in the medium and long term, and the low interest rate environment usually enhances the attractiveness of the precious metal.
On the other hand, gold prices rose in Egypt, where the price of 21-karat gold is trading the highest in Egypt Today, Wednesday, September 25, near the levels of 3615 pounds.
24-karat gold also recorded levels of 4131 pounds, and 18-karat gold also recorded levels of 3099 pounds.
The price of the dollar in Egypt inside official banks also rose today to reach levels of 48.78 pounds per dollar, also the price of the dollar in the parallel market inside Egypt rose to levels of 49 pounds per dollar, as the rise in the dollar price in Egypt and also the rise of gold globally led to a strong rise in the price of gold in Egypt.
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