Gold prices in Egypt:
24-karat: EGP 6,297 per gram
21-karat: EGP 5,510 per gram
18-karat: EGP 4,722 per gram
Gold Pound: EGP 44,080
US interest rate cuts pressure global gold prices
The increase came after a decline on Wednesday, following
the US Federal Reserve’s decision to cut the key interest rate by 25 basis
points, setting the range between 4% and 4.25%. It was the first such move
since the beginning of 2025 and since President Donald Trump took office.
The rise in the US dollar following the rate cut led to a
sharp drop in global gold prices. Political pressure from the Trump
administration continues to push for faster rate reductions, while Federal
Reserve Chair Jerome Powell prefers a more cautious approach at this stage.