Gold prices held steady on Thursday as investors awaited key U.S. economic data due later this week, expected to provide clearer guidance on the path of interest rates.
Gold prices declined on Thursday, weighed down by a stronger U.S. dollar and easing market concerns following
Gold prices advanced on Wednesday as global markets turned their attention to ongoing U.S. trade policy developments and assessed fresh inflation data pointing to rising consumer prices in June. The upward movement reflects investor caution amid lingering uncertainties over tariffs and monetary policy direction.
Gold lost 4% of its value over the past week in the Egyptian market, reflecting a noticeable decline in demand and a shift in investor preferences. This local was further reinforced by a 2.8% decline in global gold prices during the same period.
Gold prices stabilized on Wednesday as demand for safe-haven assets eased after the announcement of a ceasefire between Iran and Israel. Despite subdued investor appetite, a weaker U.S. dollar and bargain hunting following the previous sessions decline helped limit further losses in the precious metal.
Global gold prices fell on Tuesday to their lowest level in nearly two weeks, following an announcement by U.S. President Donald Trump that Iran and Israel have agreed to a ceasefire, ending a 12-day conflict. The news dampened investor demand for the precious metal as a safe haven.
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