Gold Prices Climb Amid Geopolitical Tensions Ahead of Fed Decision

The gold market experienced a modest rise in both local and global markets at the end of the week, with the international spot price gaining approximately 0.9% weekly.

This increase was largely driven by persistent geopolitical tensions in the Middle East, as well as ongoing physical demand from China.

The price of 21-karat gold in Egypt's local market increased by around EGP 10 compared to the previous close, reaching approximately EGP 5,990 per gram. In contrast, the international gold price rose by US$36 over the course of the week, ending at US$4,053 per ounce.

Investors are now focusing on next week's U.S. Federal Reserve meeting, which is expected to provide fresh guidance on monetary policy and the near-term outlook for gold.