The price of gold in Egypt Today, Thursday, April 17, 2025
The global price of gold
Gold prices retreated on Thursday from their all-time high, which was near the levels of 3357 dollars per ounce, with investors keen to take profits before the long weekend due to the holidays, down to the levels of 3320 dollars per ounce now.
Gold rose by 3.6% on Wednesday, driven by Trump's order to open an investigation into possible tariffs on all base metal imports, as well as reviews of imports of medicines and chips, and US Federal Reserve Chairman Jerome Powell said on Wednesday that the Fed will wait for more data before changing interest rates, warning at the same time that Trump's tariff policies may push inflation away from the central bank's goals.
We expect that Powell's statements may affect gold to some extent.
Low interest rates usually boost investors enthusiasm for buying non-interest-yielding bullion, trade tensions remain high and uncertainty is likely to keep the demand for gold as a safe haven in the near and medium term, with every drop buying a good one.
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 the levels of 4770 pounds after breaking the barrier of 4800 pounds for the first time today.
The price of 24-carat gold in Egypt also recorded levels of 5451 pounds, while 18-carat gold is trading at levels of 4089 pounds per gram.
The price of the dollar minted in Egypt rose today to the levels of 51.00 pounds, with a slight rise in the dollar price inside the official banks in Egypt to the levels of 51.17 pounds, while the dollar price on the black market inside Egypt rose to the levels of 51.40 pounds.
