The price of gold in Egypt Today, Tuesday, February 18, 2025
The global price of gold
Gold rose during the Asian trading period on Tuesday near the levels of 2915 dollars per ounce, while large investment banks raised their expectations for gold during the current year, as Goldman Sachs analysts raised the target price for the end of the year to 3100 dollars, and UBS Bank analyst says that gold may reach 3200 dollars later this year.
Strong positive investor sentiment amid high levels of macro uncertainty coupled with a persistent lack of positioning means there is plenty of room for gold holdings to rise, which in turn would push prices higher.
With investors worried about the depreciation of the fiat currency, further deterioration of the US fiscal deficit, geopolitical risks, sanctions and tariffs, gold should continue to attract attention as an alternative asset.
The price of gold in Egypt
On the other hand, gold prices rose in Egypt on Tuesday, where the 21st highest traded gold in Egypt recorded levels of 4120 pounds.
The price of 24-carat gold in Egypt also recorded rises today towards the levels of 4709 pounds, while 18-carat gold is trading at the levels of 3531 pounds per gram.
The dollar prices in Egypt did not move much on Tuesday, as the dollar is still trading today at the levels of 50.30 pounds, and the dollar price inside official banks declined slightly near the levels of 50.66 pounds, also slight declines in dollar prices on the black market inside Egypt down to the levels of 50.92 pounds.
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