registered Gold prices in Egypt, new highsHours after the US Federal Reserve raised interest rates to the highest level since 2007.
The price of a 24-carat gram rose to the level of 1971 pounds, while the price of a 21-gram gram rose to the level of 1725 pounds.
The price of an 18-karat gram amounted to around £1479, while the price of a 14-karat gram rose to the £1150 level, while the price of a pound of gold rose to around £13,800.
On Wednesday, the Federal Reserve raised its key interest rate to the highest level in 15 years. The Fed stressed that the fight against inflation is not over yet, despite some promising indicators recently.
In line with expectations, the Federal Open Market Committee voted to raise the overnight lending rate by half a percentage point to a range of 4.25% to 4.5%, following four consecutive increases of about 75 basis points during the Bank meeting The US Central Bank in 2022.
Worldwide; Gold prices fell on Wednesday ahead of the Federal Reserve’s monetary policy decision.
At settlement time, gold futures for February delivery fell 0.4%, or $6.80, to $1818.70 an ounce.
In the foreign exchange market, the dollar index, which measures the performance of the US currency against a basket of six major currencies, fell 0.3% to 103.635 points.
