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Why did gold prices rise globally and locally? .. US inflation is the password

After gold prices witnessed a remarkable movement in global trading, this evening, we present the most important questions and their answers about the reasons for the rise globally, as well as the repercussions of this on the local market.


What is the status of the gold market now?


Gold prices rose in evening trading today, Tuesday, by 3 pounds, against the backdrop of the rise in gold prices globally to levels exceeding $1800 at the time of writing these lines.


Gold prices today, 18 karat record 672 pounds, 24 karat record 897 pounds, 21 karat record 785 pounds, the gold pound 6280 pounds, an ounce of gold 1803 dollars.


Why did gold rise to levels above $1800?


Gold prices rose this evening, Tuesday, to levels exceeding $1800 on the global stock exchange, which was reflected in the price of gold in Egypt, recording an increase of about $3 now, after inflation was announced in America, rising to levels of 5.3%.


How are US inflation indicators reflected on gold?


The US annual inflation for the month of August recorded 5.3%, in line with expectations, after it was at 5.4% in July, which affected the attractiveness of the yellow metal, as high inflation causes resorting to safe havens, especially gold.