Gold prices rose significantly in Egyptian and international markets during today’s trading due to the fall of the US dollar to its lowest level in nearly four years and market expectations for the Federal Reserve’s decisions on monetary policy. According to a report published by the ‘iSagha’ platform, the price of 24-karat gold was recorded at around 8,052 pounds per gram.
historical level
Said Embabi, executive director of iSagha platform, said: “During today’s trading, gold prices in the Egyptian market rose by about 195 pounds, reaching a level of 7,045 pounds for 1 gram of 21 carat gold, while in the global stock market, 1 ounce rose by about 189 dollars to reach $5,273, reaching a historic high level.”
He added: “The price of a pound of gold rose to around £56,360, while the price of 24-karat gold reached around £8,052 per gram and 18-karat gold around £6,039.”
Globally, gold has broken the $5,300 per ounce barrier for the first time in history, with the spot price rising to around $5,309, an increase of over 22% since the beginning of the year, on the back of growing demand for the safe-haven asset.
growing anxiety
The rally reflects a growing sense of market anxiety as a result of economic and geopolitical uncertainty, as well as US President Donald Trump’s policies and statements that have raised concerns about the future of the dollar and the independence of the Federal Reserve.
Rising expectations for lower interest rates in the United States have increased demand for gold, making the yellow metal more attractive despite not producing regular profits.
Concerns about a “crisis of confidence” in the dollar contributed to the sell-off, especially after President Trump’s comments within the White House hinted at a future devaluation of the currency.
Gold prices rose significantly in Egyptian and global markets during today’s trading as the US dollar fell to an almost four-year low and market expectations for the Federal Reserve’s decisions on monetary policy. According to a report published by the “iSagha” platform, the price of 24 carat gold reached approximately 8052 Egyptian pounds.
history level
Said Inbabi, CEO of the iSagha platform, said: “During today’s trading, the gold price in the Egyptian market increased by about 195 pounds, and the price of 21 carat gold reached 7,045 pounds. On the other hand, an ounce in the world market increased by about $189 to reach $5,273, reaching a historic high level.”
He added: “The price of 24 carat gold reached around 8,052 pounds and 18 carat gold recorded around 6,039 pounds, while the price of gold pound rose to around 56,360 pounds.”
Globally, as demand for safe-haven assets increases, gold’s spot price has risen to around $5,309, an increase of more than 22% since the beginning of the year, and breaking the $5,300 per ounce barrier for the first time in history.
growing concerns
The rally reflects growing market concerns due to economic and geopolitical uncertainty, as well as U.S. President Donald Trump’s policies and statements that have raised concerns about the dollar’s future and the independence of the Federal Reserve.
Demand for gold is increasing amid expectations of lower U.S. interest rates, making the yellow metal more attractive despite the lack of regular returns.
Concerns about a “crisis of confidence” in the dollar accelerated the selloff, particularly after President Trump’s comments within the White House hinted that he would seek to weaken the currency in the future.
