Gold Prices in Egypt:
24-karat: EGP 5,215 /g
21-karat: EGP 4,560/g
18-karat: EGP 3,911/g
Gold pound: EGP 36,480
On the international front, gold prices rose by 0.2 percent
during Wednesday’s trading session to reach $3,333 per ounce, after opening at
$3,327. The metal is currently trading near the $3,330 level, according to a
report by the Gold Bullion platform.
This modest rebound followed four consecutive sessions of
decline, as global investors held positions steady ahead of the Federal
Reserve’s expected announcement. There is broad market consensus that interest
rates will be maintained within the current range of 4.25 to 4.50 percent.
Markets are also closely monitoring statements from Federal
Reserve Chair Jerome Powell, seeking signals on the bank’s intentions regarding
potential interest rate cuts in upcoming meetings. This comes amid growing
political pressure from the US administration, highlighted by former President
Donald Trump’s visit to the Fed’s headquarters last Friday.
In parallel, traders are awaiting the release of US labor
market data later this week, which is expected to influence gold price trends.
The data is considered a key indicator of the US economy’s strength and plays a
crucial role in guiding monetary policy in the period ahead.