The price of gold in Egypt Today, Thursday, February 27, 2025
The global price of gold
Gold futures fell to two-week lows by 1.2% at 2896 dollars per ounce, one of the main reasons for these declines was due to the strength of the US dollar and rising yields on US Treasury bonds.
The US dollar made gains on the back of President Trump's latest statements on trade policy, which threatened to impose a 25% tariff on the European Union but also raised hopes for another postponement of Mexican and Canadian tariffs.
The market's focus is shifting to the upcoming personal consumer spending report, scheduled for release tomorrow Friday, and the Inflation Report may give us some hints about the path the Fed may take towards easing monetary policy.
Markets expect the Fed to provide at least two interest rate cuts this year, pricing in about 55 basis points of easing for 2025.
The price of gold in Egypt
On the other hand, gold prices in Egypt fell on Thursday, as the 21st highest traded gold in Egypt recorded levels of 4100 pounds.
The price of 24-carat gold in Egypt also recorded levels of 4686 pounds, while 18-carat gold is trading at levels of 3514 pounds per gram.
The price of the dollar minted in Egypt rose today to the levels of 50.40 pounds, while the dollar price in official banks rose slightly today to the levels of 50.67 pounds, and the dollar price in the black market inside Egypt did not move from the levels of 50.89 pounds recorded yesterday.
