The price of gold in Egypt Today, Thursday, May 29, 2025
The global price of gold
Gold prices fell at the beginning of trading on Thursday to the levels of 3245 dollars per ounce after the trade court blocked Trump's tariffs.
The court had halted Trump's tariffs on Wednesday, canceling the duties that sparked a global trade war and threatened an economic slowdown.
The court's decision on tariffs weakens some of the attractiveness of gold as a safe haven, raises some doubts, and the rise of the US dollar adds pressure on gold.
However, gold still protects against other forms of uncertainty, and its attractiveness looks strong, resulting in a rise again after such pullbacks.
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 levels of 4590 pounds.
The price of 24-carat gold in Egypt also recorded levels of 5246 pounds, while 18-carat gold is trading at levels of 3934 pounds per gram.
On the other hand, the price of the dollar minted today in Egypt rose slightly to the levels of 49.70 pounds, while the dollar prices inside the official banks in Egypt did not move from the levels of 49.86 pounds, also the dollar price in the black market is trading at the levels of 50.11 pounds.
