The price of gold in Egypt Today, Friday, February 14, 2025
The global price of gold
Gold prices rose on Friday for the third day in a row near all-time highs amid safe haven demand, reaching levels of 2939 dollars per ounce.
Gold is heading for gains for the seventh week in a row, with the current weakening of the US dollar.
Concerns about President Trump's new trade tariffs are also driving safe-haven demand, as gold benefits from uncertainty about US policy, trade tensions, military conflicts around the world and macroeconomic uncertainty in general.
However, the US Federal Reserve is likely to adopt a more cautious approach to cutting interest rates, especially with inflation rising more than expected in January.
The price of gold in Egypt
On the other hand, gold prices in Egypt rose strongly on Friday, as the 21st highest traded gold in Egypt set a new record, reaching levels of 4150 pounds.
The price of 24-carat gold in Egypt also recorded rises today towards the levels of 4743 pounds, while 18-carat gold is trading at the levels of 3557 pounds per gram.
The dollar rose on Thursday to reach the levels of 50.30 pounds, and the dollar price inside the official banks rose slightly to the levels of 50.70 pounds, and the dollar prices traded on the black market in Egypt at yesterday's levels near the levels of 50.95 pounds.
