The price of gold in Egypt Today Monday, February 24, 2025
The global price of gold
Gold prices witnessed a noticeable fluctuation on Monday, falling to the levels of 2922 dollars per ounce with the opening of today's trading, before climbing back up again and trading close to all-time highs.
The move comes supported by strong demand for gold as a safe haven amid global economic and trade concerns.
The demand for a safe haven as trade concerns escalate due to US President Donald Trump's plans to impose new tariffs, has led investors to resort to gold as a hedge against uncertainty.
Reports on Friday also showed a slowdown in business activity and a decline in consumer confidence, which strengthened the attractiveness of gold as a safe investment tool.
The personal consumption expenditures (PCE) index, due to be released on Friday, is one of the most important indicators that investors are following, which may provide clues about the future course of interest rates, which directly affects gold prices.
The price of gold in Egypt
On the other hand, gold prices rose in Egypt on Monday, where the 21st highest traded gold in Egypt recorded levels of 4160 pounds.
The price of 24-carat gold in Egypt also recorded levels of 4754 pounds, while 18-carat gold is trading at levels of 3566 pounds per gram.
The goldsmith dollar also rose to the levels of 50.40 pounds, with the dollar price inside the official banks today rising slightly to the levels of 50.63 pounds, the dollar price on the black market inside Egypt also rose to the levels of 50.88 pounds.
