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Federal Reserve

Gold pound holds near record highs in Egypt as Fed pauses, safe-haven demand lifts bullion

Egypt’s gold pound holds near record highs at EGP 56,600 as Fed pauses and safe-haven demand boosts bullion.

U.S. Federal Reserve cuts interest rates by 50bps

The Federal Reserve aims to reduce the inflation rate — the rise in prices — to its target of 2%.

Gold prices in Egypt remain stable amid lack of clarity on US monetary policy

This comes amid market attempts to gain clarity about the future of US monetary policy amidst anticipation for economic data to be released.