Gold price in Egypt Today Thursday 08 May 2025
The global price of gold
Gold prices fell on Thursday to the levels of 3340 dollars per ounce now, this is due to the rise in the US dollar, optimism about the US-UK Trade Agreement, and some ongoing disappointment after the Federal Reserve kept interest rates unchanged.
The Fed indicated that it is in no hurry to cut interest rates, and Fed Governor Jerome Powell warned that if the tariffs continue, inflation will rise, growth will slow down, and unemployment will increase.
Powell's comments led to a rise in the dollar, which keeps downward pressure on bullion, and expectations of a trade agreement between the United States and the United Kingdom added to the downward pressure on gold, as the market switched to a risk-taking mood, further diminishing the attractiveness of gold as a safe haven.
The price of gold in Egypt
Gold prices in Egypt fell on Thursday, as the 21st highest traded gold in Egypt is now trading at levels of 4750 pounds.
The price of 24-carat gold in Egypt also recorded levels of 5429 pounds, while 18-carat gold is trading at levels of 4071 pounds per gram.
On the other hand, the price of the dollar issued in Egypt fell today to the levels of 50.60 pounds, while the dollar price in official banks inside Egypt rose slightly to the levels of 50.72 pounds, and also the dollar price in the black market at the levels of 50.95 pounds.
