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Market expectations for any rate cuts have been pushed out, which could boost the U.S. dollar and potentially dampen oil demand and prices

Gold could capitalize on potential downturns in U.S. macroeconomic data in the coming quarters

Despite the increase, gold prices were down around 2.3 percent, their biggest weekly drop since early December

Brent crude futures saw a gain of 31 cents, equivalent to 0.4 percent, reaching $89.32 per barrel

The CBE's Monetary Policy Committee is scheduled to meet on May 23 to review the key interest rates

The country kept one-year LPR at 3.45 percent, five-year LPR at 3.95 percent

Food prices remained unchanged at 5 percent in March compared to February

Officials highlighted that the ECB's decisions hinge on incoming data, especially regarding wages, profits, and productivity

Prices of food and non-alcoholic beverages group saw a significant rise of 3.4 percent

Bullion loses safe-haven appeal amidst reduced geopolitical risks

Market analysts referred to gold as a geopolitical trade rather than a monetary policy trade at the moment

Egypt further plans to sell more state assets, which would reduce the state's role in the economy