The price of gold in Egypt Today, Thursday, December 19, 2024
The global price of gold
Gold prices have fallen this week, especially on Wednesday, especially with the Fed's interest rate cut yesterday by 25 basis points, but he pointed to cuts below expectations for next year, which strengthened the dollar and bond yields and added more pressure on the precious metal during the coming period.
New forecasts indicate only two quarter-point interest rate cuts in 2025.
At the September meeting, the Fed had expected four quarter-point cuts over the next year.
The price of gold in Egypt
On the other hand, the price of gold in Egypt declined slightly on Thursday due to the decline in the dollar's price locally, as the price of the 21st highest traded gold in Egypt is trading near the levels of 3760 pounds.
The price of 24-karat gold also fell today at levels of 4297 pounds, while 18-karat gold recorded levels of 3223 pounds per gram.
The price of the dollar minted in Egypt also rose at the levels of 51 pounds again, while the dollar price inside official banks rose slightly today to reach the levels of 50.96 pounds, and the dollar price in the parallel market inside Egypt is still fixed at the levels of 51.15 pounds.
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