The price of gold in Egypt Today, Friday, May 16, 2025
The global price of gold
Gold is on the verge of recording a weekly decline of more than 4%
Gold prices are trading on Friday near the levels of 3175 dollars per ounce now, and its attractiveness as a safe haven has decreased with the easing of global trade tensions.
The United States and China recently agreed to temporarily reduce tariffs for 90 days, which calmed fears about the long-term repercussions of their trade dispute, and geopolitical risks also seemed to have subsided, with the truce between India and Pakistan holding firm.
However, the negotiations between Russia and Ukraine have shown some signs of faltering.
At the same time, positive inflation data from the United States, which support the non-yielding yellow metal, reinforced expectations that the Fed will cut interest rates at least twice this year.
However, Fed Chairman Jerome Powell warned that inflation could become more volatile in the future due to increasing supply shocks, which could complicate central banks ' efforts to maintain price stability.
The price of gold in Egypt
Gold prices in Egypt fell on Friday, as the 21st highest traded gold in Egypt is now trading at levels of 4510 pounds.
The price of 24-carat gold in Egypt also recorded levels of 5154 pounds, while 18-carat gold is trading at levels of 3866 pounds per gram.
On the other hand, the price of the dollar issued today in Egypt has fallen to the levels of 50.50 pounds, while the dollar price in official banks inside Egypt has fallen to the levels of 50.20 pounds, and also the dollar price in the black market at the levels of 50.45 pounds.
