The price of gold in Egypt Today, Tuesday, January 14, 2025
The global price of gold
Gold prices rose almost at the levels of 2670 dollars per ounce on Tuesday, after falling yesterday by more than 1% due to the strength of the US dollar and rising Treasury yields.
With the inauguration of President-elect Donald Trump next week, fears are growing that tariffs and proposed trade policies could fuel inflation and spark trade wars, enhancing the attractiveness of gold as a hedge against inflation.
Investors are now waiting for key US economic data to be released this week, including producer and consumer inflation figures, along with retail sales and weekly unemployment claims, which may provide further insights into the economy and the Fed's interest rate trajectory.
The price of gold in Egypt
On the other hand, gold prices in Egypt fell on Tuesday, as the price of gold reached the 21st highest traded in Egypt near the levels of 3763 pounds.
The price of 24-carat gold in Egypt also recorded further declines today, reaching the levels of 4301 pounds, while 18-carat gold is trading at the levels of 3225 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 50.57 pounds, with a slight decline in the dollar price in the parallel market inside Egypt at the levels of 50.82 pounds.
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