Investors’ eyes are on Currency and metal markets To Australia today, Tuesday, September 21, 2021, with the announcement of the minutes of the monetary policy committee meeting of the Australian Reserve Board, which will have implications for the precious metals markets and investor decisions.
And we had witnessed clear strikes in the metals, currencies and stock markets during the past week, amid anticipation of the meeting and conference of the US Federal Reserve expected next Wednesday, which will have direct effects on the markets.
Inflation in the US slowed for the first time in 6 months, supporting earlier indications from the Federal Reserve that inflation was temporary, in addition, the better-than-expected retail sales figures for August surprised the markets, sending the US dollar higher and pushing gold prices lower. Its levels in a month are below 1760 dollars, and this caused clear effects on the price of gold in all countries of the world.
While the UK inflation rate rose more than expected from 2.0% to 3.2%, the highest level in 9 years. The British pound rose against a basket of currencies, including the US dollar, as rising inflation may prompt the Bank of England to scale back economic stimulus, and all these developments were reflected in gold trading.
Regarding the Egyptian gold market, gold recorded 773 pounds for 21 karat, and 18 karat rose to 664 pounds per gram, while 24 karat gold rose to levels of 884 pounds per gram.