The price of gold in Egypt Today, Monday, December 16, 2024
The global price of gold
Gold prices are stable on the rise during the day Monday with the beginning of the week's trading, as the precious metal came out of a two-day losing streak with prices hovering near 2650 dollars per ounce.
The US Federal Reserve will decide this week whether to cut the interest rate from its current level of 4.75%, and markets expect a reduction of 25 basis points to 4.50%, and this has already been announced by Fed Chairman Jerome Powell, who will hold his press conference on Wednesday, exactly half an hour after the announcement of the interest decision.
The price of gold in Egypt
On the other hand, the price of gold in Egypt declined on Monday, as the price of the 21st highest traded gold in Egypt is trading near the levels of 3805 pounds.
The price of 24-karat gold also fell today at levels of 4349 pounds, while 18-karat gold recorded levels of 3261 pounds per gram.
The price of the goldsmith's dollar in Egypt is also trading near the levels of 50.90 pounds, while the dollar's price inside official banks declined slightly today to reach the levels of 50.85 pounds, while the dollar's price in the parallel market inside Egypt rose to the levels of 51.15 pounds.
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