The price of gold in Egypt Today, Wednesday, February 5, 2025
The global price of gold
Gold futures fell on Thursday by 0.4% to 2882 dollars per ounce, but remain near record highs after hitting a new historical high at 2906 dollars in the previous session.
It seems that the bullish gold market will continue under the Trump administration, as trade wars and geopolitical tensions are strengthening trends towards diversification of central bank reserves and de-dollarization.
Citibank also raised its price target for gold over the next three months to 3,000 dollars per ounce, from 2,800 dollars, and its average price in 2025 to 2,900 dollars from 2,800 dollars per ounce.
Gold is now trading near the levels of 2860 dollars, and we expect its best buying areas to be at the levels of 2820 and then 2780 dollars per ounce.
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 reached levels of 4000 pounds.
The price of 24-carat gold in Egypt also recorded rises today towards the levels of 4571 pounds, while 18-carat gold is trading at the levels of 3429 pounds per gram.
The price of the goldsmith dollar also did not move from the levels of 49.80, as the dollar price inside the official banks declined slightly to the levels of 50.36 pounds, also the dollar price on the black market inside Egypt fell to the levels of 50.62 pounds.
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