The price of gold in Egypt Today, Wednesday, August 20, 2025
The global price of gold
Gold futures rose even though they are still stuck in a relatively narrow trading range, with currently few catalysts.
Futures rose 0.2% to 3,367 dollars per ounce, although they are still down 1.2% for the week.
The demand for the precious metal as a safe haven has been declining this week with optimism about a possible ceasefire between Russia and Ukraine, and the focus of the markets on the annual meeting of the US Federal Reserve in Jackson Hole.
Statements by Fed Chairman Jerome Powell at the meeting to be held later this week may clarify the course of monetary policy.
While the September interest rate cut is still widely expected, cautious optimism has waned over the past week, sending gold prices lower.
We are also waiting for the release later in the day of the minutes of the latest FOMC meeting.
The price of gold in Egypt
Gold prices in Egypt rose on Wednesday after falling this week, as the 21st highest traded gold in Egypt is now trading at levels of 4540 pounds.
The price of 24-carat gold in Egypt also rose to levels of 5189 pounds, while 18-carat gold is trading at levels of 3891 pounds per gram.
On the other hand, the price of the dollar issued in Egypt has not moved from the levels of 48.50 pounds, also the dollar price inside the official banks in Egypt is stable near the levels of 48.54 pounds, and also the dollar price in the black market at the levels of 48.80 pounds.
