The price of gold in Egypt Today, Thursday, December 5, 2024
The global price of gold
Gold prices during Thursday's trading fell slightly near the levels of 2645 dollars per ounce, as traders continue to take a cautious position ahead of the US non-farm payrolls data due on Friday for more insights on the next step that the Fed may take two weeks from now.
Fed Chairman Jerome Powell said yesterday evening that the economy looks better now than it did in September, which means that the central bank can move more slowly in reducing borrowing costs, and you can read more about this speech here.
The markets are also now pricing in the prospect of a quarter-point interest rate cut to more than 74%.
The price of gold in Egypt
On the other hand, the price of gold in Egypt rose today, Thursday, where the price of the 21st highest traded gold in Egypt is trading near the levels of 3703 pounds.
The price of 24-karat gold is also trading today at levels of 4232 pounds, while 18-karat gold recorded levels of 3174 pounds per gram.
With the stability in the price of the dollar minted in Egypt near the levels of 49.50 pounds, the dollar price rose inside the official banks today to exceed the levels of 50 pounds and specifically up to 50.03 pounds, and the dollar price in the parallel market inside Egypt also rose to the levels of 50.26 pounds.
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