The price of gold in Egypt Today, Thursday, January 16, 2025
The global price of gold
Gold prices rose on Thursday, breaking through the levels of 2700 dollars per ounce and we still expect a further rise towards the levels of 2710 dollars, the main reasons for this rise were the decline in the dollar and US Treasury bond yields due to the slowdown in core inflation in the United States, which led to renewed hopes for the Fed to adopt a less restrictive policy this year, while the main consumer prices did not show any major surprises in the upward trend.
This supported the demand for bullion as progress in reducing inflation may prompt the Federal Open Market Committee to ease monetary policy, reducing the alternative cost of holding non-yielding assets.
However, the news of a ceasefire agreement between Israel and Hamas and a deal with the entity has limited the gold gains and could lead to a return to decline again once the implementation of the deal begins.
The price of gold in Egypt
On the other hand, gold prices in Egypt rose on Thursday, as the price of the 21st highest traded gold in Egypt reached near the levels of 3800 pounds.
The price of 24-carat gold in Egypt also recorded a further rise today, reaching the levels of 4343 pounds, while 18-carat gold is trading at the levels of 3257 pounds per gram.
The price of the dollar minted in Egypt is still trading today at the levels of 50.00 pounds, the dollar price inside the official banks also declined slightly today near the levels of 50.48 pounds, with the dollar price in the parallel market inside Egypt at the levels of 50.75 pounds.
