The price of gold in Egypt Today, Wednesday, February 19, 2025
The global price of gold
Gold prices rose on Wednesday again to record levels near the levels of 2946 dollars per ounce, due to ongoing trade war fears, as the risk of a full-scale trade war is very high, which stimulates investor demand for safe assets such as gold.
Gold has seen a high appetite from investors as the drama of Trump's tariffs has triggered panic buying from central banks, exchange-traded investment funds, and most importantly, the main US market for metal trading.
Especially after Trump announced yesterday the imposition of tariffs of 25% on cars, and duties of the same percentage on medicines and semiconductors starting from April 2.
Yesterday, 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.
The price of gold in Egypt
On the other hand, gold prices rose in Egypt on Wednesday, where the 21st highest traded gold in Egypt recorded levels of 4170 pounds.
The price of 24-carat gold in Egypt also recorded new highs today towards the levels of 4766 pounds, while 18-carat gold is trading at the levels of 3574 pounds per gram.
The dollar is still trading today at the levels of 50.30 pounds since the beginning of the week, but the dollar price inside official banks rose today to the levels of 50.76 pounds, and the dollar price on the black market inside Egypt also rose to the levels of 51 pounds.
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