The price of gold in Egypt Today, Tuesday, January 28, 2025
The global price of gold
Gold prices rose slightly on Tuesday, but the precious metal still maintains its low levels achieved yesterday in a strong way with the beginning of the week's trading, and we are now waiting for the two-day federal policy meeting, which starts later today.
The focus will be on Fed Chairman Jerome Powell's speech and how the central bank will respond to President Donald Trump's calls to cut interest rates.
The attractiveness of gold as a hedge against inflation could diminish if Trump's perceived inflationary policies lead, which could prompt the Fed to keep interest rates high for a long time.
The precious metal also fell 1.1% in the previous session amid a wider sell-off in the market after Chinese artificial intelligence startup Deep Seek sparked a massive rout in technology stocks.
The price of gold in Egypt
On the other hand, gold prices in Egypt fell on Tuesday, as the price of the 21st highest traded gold in Egypt reached the levels of 3835 pounds.
The price of 24-carat gold in Egypt also recorded declines today towards the levels of 4383 pounds, while 18-carat gold is trading at the levels of 3287 pounds per gram.
And for those who do not change the dollar prices in Egypt today, as the price of the goldsmith dollar in Egypt recorded levels of 49.60 pounds on Tuesday, and the dollar price inside official banks today was trading at levels of 50.31 pounds, while the dollar price in the parallel market inside Egypt recorded levels of 50.56 pounds.
