The global rally was triggered by the U.S. Department of Labor's December jobs report, which revealed a significant slowdown in hiring. The weak data has bolstered investor expectations that the Federal Reserve may pivot toward a more dovish monetary policy in the coming months, a scenario that historically supports non-yielding assets like gold.
Gold Prices Today in Egypt:
24 karat: 6,874 EGP
21 karat: 6,015 EGP
18 karat: 5,155 EGP
Gold Pound: 48,120 EGP
On a global scale, gold received direct support following
the U.S. Department of Labor's announcement that the economy added only about 50,000
jobs in December. This figure fell short of expectations, reigniting concerns
over a slowdown in the U.S. labor market during 2025 and driving investors to
increase their holdings in safe-haven assets.
The data showed a decline in the unemployment rate to 4.4%,
down from 4.6% in November. However, the number of jobs added was below the
average estimate of 66,000, according to Investing.com data. This shortfall has
strengthened bets on potential U.S. interest rate cuts in the coming months.
November's employment figures were revised downward to 56,000
jobs (from an initial 64,000), while October's data revealed a loss of
approximately 173,000 jobs. these revisions have cast doubt on the resilience
of the U.S. labor market and contributed to the sustained upward trend in
global gold prices.
Investors are now closely monitoring any new indicators regarding U.S. monetary policy or global economic performance. Amidst ongoing uncertainty, these factors are expected to continue influencing gold price movements both locally and internationally.