The price of gold in Egypt Today, Friday, February 7, 2025
The global price of gold
Gold prices are trading today Friday at 2865 dollars per ounce near the highest level in the history achieved yesterday, as gold is preparing for the sixth week of gains thanks to safe haven demand fueled by the trade war, and on the other hand, attention may turn today to the US non-farm payrolls report, which will be released two hours from now for signals about the course of interest rates of the Federal Reserve.
It seems that the bullish gold market will continue under the Trump administration, as trade wars and geopolitical tensions are strengthening trends towards diversification of central bank reserves and de-dollarization.
US-based investors are worried that the president may impose tariffs on precious metal imports as well, which could cause the price of safe assets to rise. Investors in the United States rushed to secure gold reserves in the United States, which led to a rise in gold futures prices.
The price of gold in Egypt
On the other hand, gold prices in Egypt fell on Friday, as the 21st highest traded gold in Egypt reached the levels of 4010 pounds.
The price of 24-carat gold in Egypt also recorded rises today towards the levels of 4583 pounds, while 18-carat gold is trading at the levels of 3437 pounds per gram.
Also, the price of the goldsmith's dollar did not move today from the levels of 49.80, similarly, the dollar did not move inside the official banks, which is trading at the levels of 50.35 pounds, also the price of the dollar on the black market inside Egypt is trading at the levels of 50.62 pounds.
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