The price of gold in Egypt Today, Wednesday, February 26, 2025
The global price of gold
Gold is settling near the levels of 2915 dollars per ounce on Wednesday after a sharp drop yesterday, however, the metal maintained an upward bias amid ongoing concerns about President Trump's tariff plans and foreign policies.
Gold also continued to find support from bullion-backed exchange-traded funds, with net inflows last week reaching their highest level since 2022.
Weak US economic data also added support to the non-yielding metal, reinforcing expectations of a 25 basis point interest rate cut by the Fed this year, and such a cut is likely to be next July.
However, the inflationary risks caused by Trump's tariffs may affect the Fed's monetary policy.
The price of gold in Egypt
On the other hand, gold prices in Egypt fell on Wednesday, as the 21st highest traded gold in Egypt recorded levels of 4120 pounds.
The price of 24-carat gold in Egypt also recorded levels of 4709 pounds, while 18-carat gold is trading at levels of 3531 pounds per gram.
The dollar prices in Egypt did not move much, as the price of the goldsmith's dollar recorded the same levels yesterday at 50.20 pounds, while the dollar price in official banks declined slightly today to the levels of 50.64 pounds, and the dollar price in the black market inside Egypt did not move from the levels of 50.90 pounds recorded yesterday.
