The price of gold in Egypt Today, Monday, April 7, 2025
The global price of gold
Gold prices have retreated from the highs achieved during last week's trading, and gold is now trading near the levels of 3030 dollars per ounce, as profit-taking has weakened the luster of the precious metal, however, expectations indicate that gold will probably climb again after a period of downward corrections.
Gold prices trimmed some of their gains and we saw a temporary sell-off, which usually happens when the commodity is trading at all-time highs.
Central banks are likely to reduce their ongoing gold purchases, as investor appetite for buying decreases, since economic worries are usually short-term factors affecting gold prices.
However, it may witness a sharp rise in the future, as Bank of America expects that gold prices on the Comex exchange may reach 3,500 dollars per ounce over the next two years, while Goldman Sachs expects the price of gold to reach 3,300 dollars per ounce by the end of 2025.
and Deutsche Bank raised its forecast for gold prices by the end of the year to 3,350 dollars per ounce.
The price of gold in Egypt
Gold prices in Egypt fell on Monday despite the rise in the price of the dollar in Egypt, where the 21st highest traded gold in Egypt is trading at levels of 4395 pounds.
The price of 24-carat gold in Egypt also recorded levels of 5023 pounds, while 18-carat gold is trading at levels of 3767 pounds per gram.
The dollar prices in Egypt rose strongly today, as the price of the dollar minted in Egypt rose strongly today to the levels of 51.60 pounds, with the dollar rising inside the official banks in Egypt at the levels of 51.61 pounds, while the dollar price on the black market in Egypt rose to the levels of 51.43 pounds less than its official price.
