Thursday 30/October/2025 – 12:34 AM
The price of gold in Egypt fell by about 120 pounds on Wednesday evening, benefiting from the return Metal to decline globally.
The price of a gram of 21 carat gold fell to 5,280 pounds on Wednesday evening, compared to the price of 5,400 pounds earlier in trading.
The US Federal Reserve decided to reduce interest rates by 25 basis points, in line with expectations.
Price of a gram of 21 carat gold
In morning trading, gold prices rose by about 2% amid demand for buying after the precious metal fell to its lowest level in three weeks during the previous session, at a time when attention is focused on the decision of the Federal Reserve to reduce interest rates and the speech of its Chairman, Jerome Powell.
Gold increased in spot transactions by 1.9%, reaching $4,024.56 per ounce by 0218 GMT, after falling on Tuesday to its lowest level since October 6.
US gold futures for December delivery rose 1.4%, recording $4,039.50 an ounce.
Peter Fertish, an analyst at Quantitative Commodity Research, said: Bargain hunting may be supportive for gold as it has lost a little more than 10% of its value.
He added: There may also be some currency reserve managers in central banks who are starting to have a good opportunity to buy more gold as prices fall.
US President Donald Trump began the final leg of his Asian tour in South Korea on Wednesday, optimistic about making progress in the unresolved tariff agreement with President Lee Jae-myung, and concluding a truce in the trade war with Chinese President Xi Jinping.
