The price of gold in Egypt Today, Friday, January 10, 2025
The global price of gold
Gold prices rose on Friday for the fourth day in a row despite the strength of the US dollar, reaching levels of 2680 dollars per ounce.
Gold is heading for weekly gains of about 2% as safe haven demand increases due to uncertainty about future US policy under President-elect Donald Trump.
We are also waiting for the US jobs report today, which may help shed more light on the course of the Fed's policy. The yellow metal is perceived as a hedge against inflation, but high interest rates reduce the attractiveness of holding a non-yielding asset.
The price of gold in Egypt
On the other hand, gold prices in Egypt rose on Friday, as the price of the 21st highest traded gold in Egypt reached near the levels of 3780 pounds.
The price of 24-carat gold in Egypt also recorded further increases today, reaching the levels of 4320 pounds, and 18-carat gold is also trading at the levels of 3240 pounds per gram.
The price of the dollar minted today in Egypt also fell again at the levels of 50.10 pounds, and the dollar price inside official banks also fell today near the levels of 50.63 pounds, with a slight decline in the dollar price in the parallel market inside Egypt at the levels of 50.90 pounds.
