The price of gold in Egypt Today, Monday, May 19, 2025
The global price of gold
Gold prices rose as high as 3230 dollars per ounce on Monday, after recording its largest weekly decline in 6 months, as the demand for safe haven assets increased due to growing concerns about the US economic outlook and the budget deficit.
Moody's credit rating agency last Friday lowered the credit rating of the US government, stripped it of the last AAA rating, citing a large financial deficit and high interest costs.
Last week, the price of gold fell by more than 3%, recording its worst weekly performance since November, as increased risk appetite as a result of the US-China trade agreement affected the market.
Sluggish inflation data and weaker-than-expected economic indicators in the United States also reinforced expectations that the US Federal Reserve will cut interest rates later this year.
The price of gold in Egypt
Gold prices rose in Egypt Today, Monday, where the 21st highest traded gold in Egypt is now trading at levels of 4565 pounds.
The price of 24-carat gold in Egypt also recorded levels of 5217 pounds, while 18-carat gold is trading at levels of 3913 pounds per gram.
On the other hand, the price of the dollar issued today in Egypt fell to the levels of 50.20 pounds, while the dollar price in official banks inside Egypt fell slightly to the levels of 50.17 pounds, and the dollar price in the black market did not move from the levels of 50.45 pounds.
