The price of gold in Egypt Today, Friday, December 20, 2024

The global price of gold

The precious metal is trading around the levels of 2600 dollars per ounce on Friday, as gold is under pressure after the hawkish forecasts from the Federal Reserve.

The Fed on Wednesday signaled a more cautious approach to further easing, as the dot-graph forecasts indicate only two interest rate cuts next year, and markets are pricing in only one cut during 2025.

Today, the markets will focus their attention on the core PCE price data, which is the Fed's preferred indicator for measuring inflation.

The price of gold in Egypt

On the other hand, the price of gold in Egypt fell on Friday, as the price of the 21st highest traded gold in Egypt is trading near the levels of 3720 pounds.

The price of 24-karat gold also fell today at levels of 4251 pounds, while 18-karat gold recorded levels of 3189 pounds per gram.

The price of the goldsmith's dollar in Egypt also declined again to trade at the levels of 50.70 pounds, while the dollar rate inside official banks did not change today to trade at the levels of 50.97 pounds, and the dollar rate in the parallel market inside Egypt is still fixed at the levels of 51.15 pounds.

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