registered Gold prices in Egypt, new highsHours following 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-carat gram amounted to regarding 1479 pounds, while the price of a 14-carat gram rose to the level of 1150 pounds, while the price of a gold pound increased to regarding 13,800 pounds.
On Wednesday, the Federal Reserve raised its benchmark interest rate to the highest level in 15 years. The Fed stressed that the fight once morest inflation is not over yet, despite some promising indicators recently.
In line with expectations, the rate-setting Federal Open Market Committee voted to boost the overnight borrowing rate by half a percentage point, bringing it to a range of 4.25% to 4.5%, following four consecutive increases of regarding 75 basis points during the Bank’s meeting. The American Central Bank in 2022.
worldwide; Gold prices settled lower on Wednesday, ahead of the Federal Reserve’s monetary policy decision.
Upon settlement, gold futures for February delivery fell 0.4%, or $6.80, at $1818.70 an ounce.
In the currency market, the dollar index, which measures the performance of the US currency once morest a basket of six major currencies, fell by 0.3% to 103.635 points.
