The price of gold in Egypt Today Monday, January 13, 2025
The global price of gold
Gold prices fell on Monday down to the levels of 2680 dollars per ounce.
The stronger-than-expected US jobs report released during last week's trading indicated an improving labor market and a strong economy, which reinforced expectations that the Fed may proceed at a slower pace in cutting interest rates this year.
This may put downward pressure on gold, as high interest rates reduce the attractiveness of holding non-yielding assets.
Investors are now waiting for inflation data to be released on Wednesday this week, which may provide more insights into the direction of the Fed's monetary policy.
The price of gold in Egypt
On the other hand, gold prices in Egypt fell slightly on Monday, as the price of the 21st highest traded gold in Egypt reached near the levels of 3790 pounds.
The price of 24-carat gold in Egypt also recorded further increases today, reaching the levels of 4331 pounds, and 18-carat gold is also trading at the levels of 3249 pounds per gram.
The price of the dollar minted in Egypt is still trading today at the levels of 50.10 pounds, and the dollar price inside official banks also declined today near the levels of 50.60 pounds, with a slight decline in the dollar price in the parallel market inside Egypt at the levels of 50.89 pounds.
