Gold prices in Egypt today:
24 karat: EGP 6269 per gram
21 karat: EGP 5485 per gram
18 karat: EGP 4701 per gram
Gold Pound: EGP 43880
Analysts indicated that a lack of economic data is expected
to prompt the US Federal Reserve to maintain its current monetary policy at the
December meeting, as officials aim to avoid risks amid insufficient indicators.
The decline in market expectations for a rate cut exerted
clear pressure on gold prices. A reduction in interest rates is generally
positive for gold, as it lowers the opportunity cost of holding the
non-yielding metal, especially compared with US government bonds.
Current market forecasts show a 46 percent probability of a
25 basis point rate cut in December, down from 50 percent in previous
estimates.