The market recorded limited volatility in recent days.
Participants continued to wait for new movements in gold trading next week.
Gold prices in Egypt today:
24 karat EGP 6109 per gram
21 karat EGP 5345 per gram
18 karat EGP 4581 per gram
Gold Pound EGP 42760
The Federal Reserve in the United States continued to
pressure gold. Expectations for a possible interest rate cut during the
December meeting dropped after the remarks of Jerome Powell. The comments
suggested a potential halt to further monetary easing.
Analysts confirmed that the probability of a rate cut fell
to 69 percent after exceeding 90 percent earlier. The shift supported the US
dollar against major currencies. The movement brought the dollar close to its
highest level in three months.
Higher interest rates and the stronger US dollar reduced the
appeal of gold as an investment tool. Gold does not generate a return for its
holders. The movement increased downside pressure on the metal.
The World Gold Council reported that central banks recorded
net purchases of 39 tons of gold in September. The level represented an
increase of 79 percent month on month. It was the fastest pace of buying in
2025. Total central bank purchases from the beginning of the year to the end of
September reached 200 tons.