The price of gold in Egypt Today, Wednesday, April 9, 2025
The global price of gold
Gold prices rose as a safe haven on Wednesday, April 9, with the entry into force of mutual tariffs imposed by US President Donald Trump, and the dollar's weakness also played a role in this rise of the precious metal, with the increasing likelihood of a cut in US interest rates.
The markets began to price several interest rate cuts by the US Federal Reserve this year almost 4 cuts, which supports Gold.
Trump's tariffs, which included 104% tariffs on Chinese goods, also went into effect today, exacerbating fears of a global trade war and economic recession.
China is scheduled to hold a high-level meeting in response to the tariffs, and its central bank has asked state banks to reduce their purchases of dollars.
The markets are waiting for the release of the minutes of the last monetary policy meeting of the Federal Reserve later in the day, as well as US inflation data on Thursday.
The price of gold in Egypt
Gold prices rose in Egypt on Wednesday,with the 21st highest traded gold in Egypt at levels of 4400 pounds.
The price of 24-carat gold in Egypt also recorded levels of 5029 pounds, while 18-carat gold is trading at levels of 3771 pounds per gram.
The price of the dollar issued in Egypt fell today to the levels of 51.40 pounds, with the dollar rising inside the official banks in Egypt at the levels of 51.74 pounds, while the price of the dollar on the black market inside Egypt rose to the levels of 51.99 pounds.
