Gold Price in Egypt Today, Thursday, October 30, 2025
Global Gold Price
Gold prices rose despite positive indicators from the US-China summit. Gold prices climbed to around $3,980 per ounce today, Thursday, after four days of declines. It appears that markets have absorbed the statements made by US President Trump following his talks with Chinese President Xi Jinping.
Trump announced a one-year agreement with China on rare earth and base metals, and a halving of fentanyl tariffs to 10%. Under the deal, Beijing will limit fentanyl production and resume purchases of US soybeans and other agricultural commodities. China has not yet commented.
What led to yesterday's declines was Federal Reserve Chairman Jerome Powell's downplaying of the likelihood of another interest rate cut in December, following yesterday's quarter-point reduction. He cited divisions among policymakers and limited data from the Federal Reserve due to the government shutdown.
Markets are now indicating a 70% probability of another interest rate cut this year, down from near-unanimous expectations before the Federal Open Market Committee's decision.
Nevertheless, gold is still on track for monthly gains, having risen by more than 50% this year.
Gold Price in Egypt
Gold prices in Egypt rose today, Thursday, after declines this week. The most traded 21-karat gold in Egypt is currently trading at 5,290 Egyptian pounds.
The price of 24-karat gold in Egypt reached 6,046 Egyptian pounds, while 18-karat gold is trading at 4,530 Egyptian pounds per gram.
On the other hand, the price of the dollar at the gold market fell today to 47.50 Egyptian pounds, while the official exchange rate at Egyptian banks remained stable at 47.40 Egyptian pounds. The dollar also declined in the black market to 47.65 Egyptian pounds.
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