Global gold prices recorded the highest level ever during trading today, Wednesday, before witnessing a slight decline, as the demand for safe haven has been supported by regeneration of geopolitical tensions in the Middle East and concerns about customs duties, while the markets are awaiting the Federal Reserve Reserve decision later in the day.
The global gold ounce price decreased today by 0.2%, after he recorded the highest historical level at $ 3045 an ounce to circulate at the level of 30.29 dollars an ounce after opening today’s session at the level of $ 3033 per ounce, according to Gold Pelion.
Since the beginning of the year, gold has increased by 15.5% in light of the reluctance of investors from risk due to the geopolitical tensions and American trade policies that depend on raising customs tariffs on the commercial partners adopted by Donald Trump as soon as he took over the presidency.
Today continues to avoid risk to a large extent before the conclusion of the Federal Reserve meeting later in the day, which is expected to provide a clear expectation and path to the American economy and interest rates, given that today’s meeting will witness the expectations of the bank members regarding many economic aspects in what is known as the points of the expectations of expectations.
Gold witnessed a sharp rise during the past week with the decline in the appetite for risk as a result of US President Donald Trump’s continued threat to impose higher customs duties, while fears of economic recession increased in the United States so that the dollar decreased as a result of this and contributes to the increasing strength of gold.
The current path of gold prices, acceleration in high and recording historical levels may lead gold to reach its targets set by international banks and institutions at 3200 dollars per ounce quickly, even if this rise permeates corrective declines.
Investors are concerned about an economic slowdown and the high risk of stagnation due to the customs duties imposed by US President Donald Trump, which are widely seen as a high inflation, and these fees have led to an escalation of trade tensions and fears of a new trade war between countries.
It is worth noting that the collapse of the ceasefire between the Zionist entity and Hamas helped to record gold new levels above the 3000 dollar level, which indicates the escalation of tensions in the Middle East, and slight progress contributed to the ceasefire talks between Russia and Ukraine in increasing demand for safe haven.
It is expected that the Federal Reserve, which will conclude its two-day policy meeting, will keep the standard interest rate fixed at 4.25%-4.50%.
If the Federal Bank meeting witnessed a cautious tone today due to the increasing state of uncertainty about the impact of customs duties on growth, this may work on the rise of gold over $ 3050 per ounce, especially since the bank members have indicated the uncertainty about economic expectations in the short term with Trump’s implementation of his agenda, in addition to limited field of any additional discounts in interest rates in the short term.
Gold prices in Egypt
Local gold witnessed a slight decline with the beginning of trading today before returning to trading at the highest historical level recorded yesterday, in light of the continuous global gold price movement in recording historical levels.
Local gold prices
The most common 21 -carat gold opened trading today at the level of 4265 pounds per gram to circulate the time of writing the report at 4275 pounds per gram, after yesterday increased by 15 pounds to close at the level of 4275 pounds per gram after the yesterday’s session was opened at 4260 pounds per gram, according to Gold Pelion.
The price of the global gold ounce recorded a new historical rise during today’s trading before it declined slightly, as the markets are awaiting the results of the US Federal Bank meeting today, in addition to the continued demand for safe haven due to tensions in the Middle East and the impact of American customs tariffs.
Local gold opened today’s trading on a slight decline before returning to trading at the highest historical level he recorded yesterday at 4275 pounds per gram 21, this comes in light of the domestic market anticipation for the movements of the global market, which is witnessing the record of historical levels.
Global gold rose to record the highest historical level at $ 3045 an ounce, to remain near the level of $ 3050 per ounce, which some consider to be a level of support for this region and its successful penetration may pay the price to the level of $ 3100 an ounce, while in return the markets are awaiting the possibility of entering the price in a negative correction due to its saturation by purchase.
As for the local price: 21 -carat local gold recorded a new historical level at 4275 pounds per gram, so that the price continues to trade at this level currently amid anticipation of the next movement of the price and will it be entered into a negative correction or continues to rise and target the level 4300 pounds per gram.
