Gold prices in Egypt:
24-karat: EGP 5,354 per gram
21-karat: EGP 4,685 per gram
18-karat: EGP 4,015 per gram
Gold pound: EGP 37,480
During August, local gold prices rose by 4.8%, reaching
their highest level since April and nearing the record high of $3,500 per ounce
seen that month, according to technical analysis by Gold Billion.
Global factors:
U.S. data showed a rise in consumer spending in July,
alongside an increase in core inflation driven by import tariffs, which pushed
up the prices of some goods.
The U.S. Personal Consumption Expenditures (PCE) Price Index
rose 0.2% month-on-month and 2.6% year-on-year, in line with forecasts. This
strengthened market bets that the Federal Reserve may cut interest rates at its
September meeting.