The price of gold in Egypt Today, Wednesday, January 22, 2025
The global price of gold
Gold prices rose 2% on Tuesday, and this rise continued today down to the levels of 2760 dollars per ounce, and the markets are still reacting to the first moves of Donald Trump in office, as Trump signed more than 200 executive orders on his first day in office, prompting investors to rush to the safe haven.
Expectations are that the tariffs imposed by Trump will cause inflation to rise again, after a years-long battle to eliminate them. All this may prompt Fed officials to retract comments on lowering interest rates in an attempt to limit possible price growth.
Gold usually acts as a hedge against inflation but it also becomes more attractive as the value of the US dollar rises, which is the expected result of the tariff plan.
The price of gold in Egypt
On the other hand, gold prices in Egypt rose on Wednesday, as the price of the 21st highest traded gold in Egypt reached the levels of 3800 pounds.
The price of 24-carat gold in Egypt also recorded strong rises today towards the levels of 4343 pounds, while 18-carat gold is trading at the levels of 3257 pounds per gram.
The price of the goldsmith's dollar in Egypt also declined to trade today at levels of 49 pounds, but the dollar price inside official banks today has not moved since yesterday and is trading at levels of 50.35 pounds, with the dollar price in the parallel market inside Egypt also fixed at levels of 50.60 pounds.
