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Gold Price in Egypt: Stalls at EGP 5960 – Will it Fall Before US Report?

Gold Price in Egypt: Stalls at EGP 5960 – Will it Fall Before US Report?

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Awaiting Crucial U.S. Employment Data

Investors are⁢ keenly focused on the upcoming release of the ‍U.S. ‌Non-Farm Payrolls report, scheduled for⁢ release next Friday, as it⁤ holds significant weight in shaping the Federal Reserve‘s monetary policy decisions.

Weaker-than-expected employment figures could bolster expectations for interest rate cuts, subsequently enhancing gold’s appeal ⁣as a safe-haven asset in a ⁢low-yield‌ surroundings. Conversely, robust numbers will likely strengthen the‍ dollar, potentially leading to ⁤further declines in precious metal prices.

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