Gold prices in Egypt today:
24-karat: EGP 5,234
21-karat: EGP 4,580
18-karat: EGP 3,926
Gold pound: EGP 36,640
Global performance:
The price of an ounce rose by 1.1% over the past week,
reaching a high of $3,378 compared to the opening of trading at $3,335, and
closing at $3,371, supported by expectations of an interest rate cut and the
dollar’s decline for the third consecutive week.
Markets are pricing in an 85% probability of a quarter-point
rate cut in September, which could support gold’s continued rally. Traders are
closely monitoring whether gold can break the $3,400-per-ounce level in the
coming days.