Thursday 08/May/2025 – 12:23 AM
The price of the gold pound in Egypt lost about 680 pounds of its value in trading on Wednesday only, after a violent decline wave that struck the international price last night after the American interest was fixed.
The price of the gold pound in Egypt
The price of the gold pound in Egypt recorded approximately 38360 pounds at the end of the day compared to 39040 pounds at the outset, to drop about 680 pounds.
Gold prices in Egypt
The price of 24 gram gold
The price of a gram of 24 carat gold was about 5480 pounds.
The price of a gram of 21 carat gold
The price of a gram of 21 carat has recorded about 4795 pounds.
The price per gram of 18 carat gold
The price of a gram of 18 carat gold in Egypt recorded about 4110 pounds.
The price of the gold pound in Egypt now
The price of the gold pound in Egypt is now 38360 pounds.
The price of gold ounces in Egypt now
The price of gold ounces in Egypt is now 3372 dollars.
The price of gold continued in its landline after the Federal Reserve Chairman Jerome Powell stated that the US Central Bank is not in a hurry to amend interest rates, despite the trade war launched by former President Donald Trump.
By 3:28 pm New York time, the instant gold price decreased by 1.7% to 3,373.04 dollars an ounce. On the other hand, the Bloomberg Index for immediate dollar increased by 0.5%. The prices of silver, platinum, and fladium also witnessed a decline.
Powell stressed that keeping interest rates is still the right choice at the present time. During a press conference held on Wednesday, he stated: “We are in a good position that allows us to wait and monitor the developments of matters.” Federal reserve officials unanimously voted to keep the standard interest rate on federal funds in a range between 4.25% and 4.5%, which has settled since last December.
Powell warned, “If the large increases in the customs duties that have been announced, they are likely to lead to an increase in inflation rates, slowing in economic growth and an increase in unemployment rates.”
The price of the US dollar increased after Powell’s comments, which kept the declining pressure on gold prices, which are priced in the American currency. Powell reducing the importance of reducing interest rates is a negative factor for gold, as the yellow metal usually benefits from the low cost of borrowing.
Gold prices had decreased earlier in the day by about 2.1%, after China and the United States confirmed holding future trade talks between them, which led to a decline in demand for assets that are safe havens.
