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Gold prices climb higher Tuesday


Gold prices climb higher Tuesday

Gold prices surged on Tuesday amid mounting speculation that the Federal Reserve will lower interest rates at its next meeting. Investors are eagerly awaiting the release of the U.S. inflation report for further clues on the potential rate cut.

Gold prices remain volatile, influenced by global economic conditions and U.S. monetary policy. For those considering investing in gold, staying updated on market trends is crucial.

Gold prices in global markets:

Spot Gold: Prices increased by 0.23% to $2,503.26 per ounce.

Gold Futures: Rose by 0.35% to $2,532.15 per ounce.

Gold Bars: Set a new record high of $2,531.60 on August 20, 2024.

Gold prices in the local market:

According to the General Division of Gold and Jewelry, gold prices have increased in Egypt's local market. Here's a breakdown of current prices:

24-Karat Gold:

Selling Price: EGP 3,903    Buying Price: EGP 3,880

21-Karat Gold:

Selling Price: EGP 3,415    Buying Price: EGP 3,395

18-Karat Gold:

Selling Price: EGP 2,928    Buying Price: EGP 2,910

Gold Pound:

Selling Price: EGP 27,360    Buying Price: EGP 27,160