The price of gold in Egypt Today, Wednesday, January 29, 2025
The global price of gold
Gold entered a period of occasional trading on Wednesday near the levels of 2760 dollars per ounce and around, waiting for the Fed's interest decision this evening, as investors focus on any signals about the possible path of interest rates, along with the speech of Bank Chairman Jerome Powell.
Expectations indicate that interest rates will remain unchanged, and the focus will be on the speech of Fed Chairman Jerome Powell and how the central bank will respond to President Donald Trump's calls to lower interest rates.
Trump called for lowering interest rates, which contradicts the Fed's determination to set interest rate policy independently, and therefore in the event of a conflict between them, we expect gold to decline during the coming period.
The price of gold in Egypt
On the other hand, gold prices in Egypt rose on Wednesday, as the price of the 21st highest traded gold in Egypt reached the levels of 3860 pounds.
The price of 24-carat gold in Egypt also recorded rises today towards the levels of 4411 pounds, while 18-carat gold is trading at the levels of 3309 pounds per gram.
Dollar prices also declined in Egypt today, but the price of the goldsmith's dollar rose in Egypt on Wednesday to levels of 49.70 pounds, but the dollar price inside official banks today fell to levels of 50.27 pounds, while the dollar price in the parallel market inside Egypt recorded levels of 50.52 pounds.
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