Gold prices in Egypt Today Wednesday 02 July 2025
The global price of gold
Gold prices settled today around the levels of 3,340 dollars per ounce, after rising during the previous two sessions.
Futures settled at 3,346.50 dollars per ounce. The precious metal had risen earlier in the session after the Senate passed the tax bill proposed by President Trump by 51 votes to 50, and the bill is expected to add 3.3 trillion dollars to the US fiscal deficit over the next decade. The prospect of a worsening US fiscal deficit is an opportunity for a further rise of safe havens, especially gold for gold.
The precious metal continues to hold a prestigious position in light of trade uncertainty, escalating geopolitical tensions, a weakening dollar and increased purchases by central banks.
However, it would take either a regional war in the Middle East or a significant reduction in interest rates by the US Federal Reserve for gold to be able to get past its historical high.
The price of gold in Egypt
Gold prices rose in Egypt on Wednesday,with the 21st highest traded gold in Egypt now trading at yesterday's levels at 4645 pounds.
The price of 24-carat gold in Egypt also recorded levels of 5309 pounds, while 18-carat gold is trading at levels of 3981 pounds per gram.
On the other hand, the exchange rate of the dollar is trading on Wednesday in Egypt at the levels of 49.40 pounds, while the dollar rate inside the official banks in Egypt has fallen to the levels of 49.40 pounds, and the dollar rate in the black market is also trading on declines near the levels of 49.76 pounds.
