registered gold prices In evening transactions today, Wednesday, a big jump of regarding 18 pounds per gram, a few minutes following the announcement of the interest rate hike in the United States of America by 75 basis points, as gold rose in Egypt at the beginning of trading today due to the continued movement of the dollar.
The price of a gram of 21 karat gold, which is the most traded in Egypt, jumped from 1127 pounds to 1145 pounds per gram, an increase of 18 pounds in evening transactions.
Jerome Powell, Chairman of the US Federal Reserve, said that inflation is still much higher than 2%, and added during a press conference a while ago: We are following a tight fiscal policy to reduce inflation.
And the Extra News channel reported, in a breaking news story, that the US two-year bond yields rose above 4.1% for the first time since 2007.
Earlier, the US Federal Reserve decided to raise the interest rate by 0.75% to 3.25%.
The inflation rate – meaning the rise in the prices of goods and services – recorded a level of 8.3% in America in August 2022, a level that exceeds expectations.
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