Wednesday 07/May/2025 – 06:42 PM
The price of the gold pound in Egypt fell by about 360 pounds this evening, Wednesday, and fell from a level that was above 39 thousand pounds against the background of the decline in the global price of the precious metal according to the prices of the Gold Division.
The price of the gold pound in Egypt
The price of the gold pound in Egypt achieved about 38680 pounds compared to the level of 39040 pounds this morning, with a decline of approximately 360 pounds, supported by the decline in the global price of the yellow metal despite global geopolitical tensions.
Gold prices witnessed a remarkable decline today, Wednesday, away from its highest levels in two weeks, in light of the increasing optimism about the possibility of making progress in the trade talks between the United States and China.
This optimism led to a decline in the demand for gold as a traditional safe haven for investors in times of economic and geopolitical uncertainty, in addition, the US dollar witnessed a recovery before the decision of the Federal Reserve on monetary policy was issued later in the day.
According to the data of the “Gold Pelion” platform, the global gold ounce price decreased by 1.3% to the lowest level at 3360 dollars per ounce. Gold had opened trading today at the level of $ 3416 an ounce and is currently trading at the level of $ 3385 an ounce.
Global gold price
This decline in the global gold price comes after its rise during the past two days to record its highest level in two weeks at 3435 dollars per ounce.
Gold opened a trading session today on a descending price gap, which reflects the decline in demand for it as a safe haven despite the continued tensions and conflict between India and Pakistan.
The decrease in gold prices is mainly due to the return of demand for assets that are more vulnerable to risks, after the United States and China confirmed that high -ranking officials from the two countries will meet for trade talks in Switzerland this week.
These news led to calming concerns about the exacerbation of the trade conflict between the two largest economies in the world, which reduced the attractiveness of gold as a safe haven that investors resort to in times of crisis.
