The price of gold in Egypt Today, Wednesday, December 4, 2024
The global price of gold
Gold is falling ahead of the Fed Chairman's statements and US data Gold prices fell on Wednesday, falling from the levels of 2655 dollars to the levels of 2640 dollars per ounce now, as the markets are waiting for the statements of Fed Chairman Jerome Powell on Wednesday evening, before the meeting of the US central bank on December 17 and 18, as well as US non-farm payrolls data scheduled for release on Friday.
The markets are also now pricing in the prospect of a quarter-point interest rate cut to more than 73%.
The price of gold in Egypt
On the other hand, the price of gold in Egypt did not move much on Wednesday and is still trading in a narrow range, as the price of 21-karat gold, the highest traded in Egypt, is trading near the levels of 3680 pounds.
The price of 24-karat gold is also trading today at levels of 4206 pounds, while 18-karat gold recorded levels of 3154 pounds per gram.
Also today we witnessed a slight rise in the price of the goldsmith's dollar near the levels of 49.50 pounds, and the dollar price inside official banks rose today to the levels of 49.87 pounds, and the dollar price did not move in the parallel market inside Egypt and is trading at the levels of 50.02 pounds.
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