The price of gold in Egypt Today, Wednesday, May 07, 2025
The global price of gold
Gold prices fell as optimism about a trade agreement between the United States and China increased, after rising during the previous two sessions to the levels of 3430 dollars per ounce, and now fell near the levels of 3385 dollars per ounce.
Us and Chinese officials are scheduled to meet in Switzerland this week, but the resumption of trade talks does not guarantee tangible results, and investors remain cautious.
Gold continues to be supported as a safe haven amid continued geopolitical instability, an unstable trading environment, and expectations of a US interest rate cut later this year.
A decline in gold prices as a correction after a sharp rise is natural and necessary, allowing prices to stabilize in the near term before resuming a more pronounced trend, waiting for today's US interest rate decision and the speech of US Federal Reserve Governor Jerome Powell.
The price of gold in Egypt
Gold prices in Egypt fell on Wednesday, as the 21st highest traded gold in Egypt is now trading at the levels of 4843 pounds.
The price of 24-carat gold in Egypt also recorded levels of 5535 pounds, while 18-carat gold is trading at levels of 4151 pounds per gram.
On the other hand, the price of the dollar minted in Egypt rose today to the levels of 50.80 pounds, while the dollar price in official banks inside Egypt rose slightly to the levels of 50.75 pounds, and also the dollar price in the black market at the levels of 51.02 pounds.
