On Wednesday, gold prices increased due to the decline of the US Dollar and stocks. However, gold profits were somehow limited as investors are looking forward to soon-to-be-announced decisions and dates by the Federal Reserve around the national economy and inflation.
George Tadrous, the gold merchant, said that gold prices increased by only 0.3% in local markets, while gold ounces recorded USD 1805.
He added that 24-karat reached EGP 902; on the other hand, 21-karat was estimated at EGP 789. While 18-karat was sold at EGP 676. Finally, the gold pound recorded EGP 6312.
The Federal Reserve will announce the latest data related to the soon-to-be-imposed fiscal policies, and it will be followed by a press conference to US Reserve Chairman Jerome Powell.
Contributed by: Rana Atef
