Gold prices in Egypt today:
24-karat: EGP 7,680 per gram
21-karat: EGP 6,720 per gram
18-karat: EGP 5,760 per gram
Gold Pound: EGP 53,760
The rise of the US dollar and declining expectations of
interest rate cuts in the United States weigh negatively on global gold prices.
Since gold does not generate returns for its holders, persistently high
interest rates increase the opportunity cost of holding it and reduce demand as
an investment tool. Conversely, a stronger dollar adds further downward
pressure on gold due to the inverse relationship between the two.