The price of gold in Egypt Today, Friday, January 31, 2025
The global price of gold
Gold rose strongly on Friday, touching the levels of 2800 dollars per ounce, to record an all-time high as investors looked for safety after US President Donald Trump repeated his threats of tariffs. His plan raised fears of trade wars and the prospect of an economic slowdown.
Gold's momentum has been further supported by looser monetary policies from major central banks.
US interest rates also remained steady without any hints of future moves, maintaining expectations of two interest rate cuts this year.
Today, investors are waiting for the report of the Personal Consumption Expenditures price index in the United States for December, which is the Fed's preferred indicator for measuring inflation.
The price of gold in Egypt
On the other hand, gold prices in Egypt rose on Friday, as the price of the 21st highest traded gold in Egypt reached the levels of 3905 pounds.
The price of 24-carat gold in Egypt also recorded rises today towards the levels of 4463 pounds, while 18-carat gold is trading at the levels of 3347 pounds per gram.
The dollar prices in Egypt have not moved since yesterday, as the rate of the dollar minted in Egypt on Friday reached levels of 49.60 pounds, while the dollar was fixed inside the official banks at levels of 50.29 pounds, and also the dollar price in the parallel market inside Egypt at levels of 50.55 pounds.
