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What is the market watching this coming week?

February 26, 2023

The markets are awaiting a bundle of data this coming week. The following will summarize the top four events that are expected to have a remarkable effect on financial markets and gold.

U.S. economy grows slower than forecast, yet inflationary pressures remain strong

February 23, 2023

U.S. economic growth measured by the Real Gross Domestic Product (GDP) expanded by 2.7% in the fourth quarter on a yearly basis, the U.S. Bureau of Economic Analysis (BEA) second estimate showed.

Gold prices fluctuate after strong US economic data

February 21, 2023

Gold prices fluctuated after the release of strong U.S. economic data that signaled the world’s biggest economy is resilient and thereby raised bets the Federal Reserve would continue monetary tightening.

US annual inflation slows less than forecast in January

February 14, 2023

U.S. consumer prices inflation slowed in January to 6.4% from a year ago, compared to 6.5% in December, data released by the Bureau of Labor Statistics on Tuesday showed.

Egypt ranks 3rd globally in CBE’s gold reserves

February 9, 2023

A recent report by the World Gold Council said that Egypt succeeded in increasing its gold reserves at the Central Bank of Egypt (CBE) during 2022 to come in third place worldwide, following the Central Bank of Turkey and the People’s Bank of China r

مصر الـ3 عالمياً باحتياطي المركزي من الذهب

February 9, 2023

قال تقرير حديث لمجلس الذهب العالمي أن الدولة المصرية نجحت في زيادة احتياطي الذهب لديها داخل خزائن البنك المركزي المصري خلال عام 2022، لتأتي بذلك في المرتبة الثالثة عالمياً وذلك بعد البنك المركزي التركي في المركز الأول وبنك الشعب الصيني في المركز الثا

WGC: Egyptian purchases of gold bars rise by 83% in 2022

February 7, 2023

Demand for gold coins and bars in Egypt rose by 83% in 2022, as the Egyptian pound saw significant drop versus dollar and due to a marked rise in inflation, according to the World Gold Council’s report.

Gold climbs to 8-month high after US data

January 18, 2023

Spot gold was up to 1925 an ounce, its highest level since late April, after the release of US economic data that provided clues that the Federal release may slow its interest rate hike pace in the coming period.

Davos: Chief Economists Predict Global Recession in 2023

January 16, 2023

Two-thirds of chief economists surveyed by the World Economic Forum (WEF) at Davos expect a global recession in 2023, citing high inflation, low growth, high debt and high fragmentation environment.