Followers of the gold price movement in Egypt are anticipating the possibility of a price drop until they make a purchase. Therefore, the seventh day presents a new episode of the Aswaaq program, on seeing the future of the gold price in Egypt, as well as the possibilities of a significant decline in the yellow metal in Egypt during the month of November next.
The price of gold is awaiting a major event during next November, after the Federal Reserve hinted at reducing the bond purchase program in November, and also noted the possibility of raising interest rates in 2022, and these developments will strongly affect gold prices, as the money will go to the interest trade and move away from gold. which does not return.
US Federal Reserve Chairman Jerome Powell said the board may start reducing its massive bond-buying program from November, while hinting at the possibility of raising interest rates in 2022.
Powell added after the two-day meeting of the Council’s Open Market Committee last week, that the announcement of the next period’s policies regarding interest may be issued during the next meeting scheduled to be held on 2 and 3 November.
The expected meeting of the US Federal Reserve, scheduled to be held on November 2 and 3, 2021, will produce results that will have significant and direct effects on the gold market and the prices of the precious metal in all stock exchanges.