The price of gold in Egypt Today, Tuesday, December 3, 2024
Gold price movements globally
Gold prices stabilized on Tuesday at the levels of 2640 dollars per ounce, as the markets prepare for US jobs data and more talks from Fed officials, which may provide clarity on the central bank's monetary policy forecasts.
Federal Reserve member Christopher Waller said on Monday he was inclined to support another rate cut later this month, while member John Williams suggested a gradual shift towards a more neutral policy stance.
This prompted investors to significantly increase expectations for another interest rate cut by 25 basis points at the Fed meeting on December 17-18, as markets currently estimate the probability of such a move at 75%.
The price of gold in Egypt
On the other hand, the price of gold in Egypt did not move much on Tuesday and is still trading in a narrow range, as the price of 21 carat gold, the highest traded in Egypt, is trading near the levels of 3675 pounds.
The price of 24-karat gold is also trading today to levels of 4200 pounds, while 18-karat gold recorded levels of 3150 pounds per gram.
Also today we witnessed a decline in the price of the goldsmith dollar near the levels of 49.40 pounds, but the dollar price inside official banks today is still trading the same at the levels of 49.79 pounds, also the dollar price in the parallel market inside Egypt has not moved and is positioned at the levels of 50.03 pounds as it was yesterday.
For more follow-up and real-time prices, you can visit our website from here
You can download our application from Google Play and Apple Store here
