The price of gold in Egypt Today, Friday, March 7, 2025
The global price of gold
Gold prices rose on Friday near the levels of 2920 dollars per ounce, where it has risen this week by 2% so far, and prices were heading for their best week in 6 weeks, supported by trade war fears and a weak dollar, while the market's focus turned to the US non-farm payrolls report scheduled for release today at 3:30 pm Egypt time.
From which we may get clues about the Fed's monetary policy in the coming period, as Fed Chairman Jerome Powell's speech on the economic outlook will follow.
It is worth noting that the Fed has kept interest rates steady so far this year after implementing 3 interest rate cuts last year, but market expectations indicate that easing will resume next June.
The price of gold in Egypt
On the other hand, gold prices rose in Egypt on Friday, where the 21st highest traded gold in Egypt recorded levels of 4130 pounds.
The price of 24-carat gold in Egypt recorded levels of 4720 pounds, while 18-carat gold is trading at levels of 3540 pounds per gram.
However, the price of the goldsmith's dollar fell today near the levels of 50.30 pounds, the dollar price also fell inside the official banks in Egypt down to the levels of 50.75 pounds, and a slight decline in the dollar price on the black market inside Egypt to yesterday's levels at 51.01 pounds.
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