Gold prices hold steady in Egypt despite stronger EGP: Metals Division
Domestic gold prices in Egypt extended their upward trajectory for the eighth consecutive week, buoyed by a historic surge in global gold prices, which surpassed the $4,000 per ounce mark for the first time, according to Ehab Wassef, Chairperson of
Gold demand drops during Eid al-Fitr, defying holiday trends: FEI official
Ehab Wassef, Head of the Gold and Precious Metals Division at the Federation of Egyptian Industries (FEI), reported an unexpected decline in gold demand during the Eid al-Fitr holiday—contrasting with previous years, when demand typically spikes due to increased purchases
Gold markets shift to parallel dollar rate, creating EGP 60 gap between local, global prices: iSagha
Gold prices in Egypt’s local market remained stable during Saturday’s trading session, coinciding with the weekly closure of global exchanges. This steadiness followed a volatile week that saw global gold prices swing sharply as investors liquidated holdings to offset stock
Gold prices surge 5.9% since early March amid market uncertainty
Global gold prices continued their upward trajectory last week, marking a third consecutive weekly gain despite a pullback in the final two trading sessions after reaching an all-time high. Over the past week, gold prices rose by 1.3%, peaking at
Gold prices surge 1.8% over past week: Gold Bullion
Gold prices declined on Friday, yet the precious metal achieved gains over the past week due to safe-haven inflows and a US jobs report revealing lower-than-expected job growth in February. This suggests that the Federal Reserve may be on track
Gold hits record highs amid market uncertainty, CBE purchases
Gold prices surged in local markets on Saturday, coinciding with the weekend closure of global stock exchanges. This follows an eighth consecutive week of gains, with gold rising by 1.8% amid heightened global uncertainty and strong Central Bank of Egypt’s
Gold declines as high interest rates dampen appeal
Global gold prices fell for the second consecutive day after reaching a record high, pressured by rising US Treasury yields and Federal Reserve Chairperson Jerome Powell’s hawkish stance on interest rates. Investors now await key US inflation data for further
Gold reaches new historic high, marking fifth consecutive week of gains
Gold prices have soared to a new historic high, marking a significant milestone as the precious metal increased for the fifth consecutive week. The surge comes amidst rising global tensions and uncertainty in the financial markets, driven in part by
Gold prices rise amid US inflation data anticipation: Gold Bullion
Gold prices increased in global trading on Tuesday, bolstered by uncertainty surrounding the political plans of US President-elect Donald Trump. Markets are awaiting US inflation data, expected to offer more clarity on the Federal Reserve’s future monetary policy. The global
Egypt’s gold reserves rise by $2.2bn in 2024
The Central Bank of Egypt (CBE) has reported a $2.2bn increase in the value of gold included in the country’s foreign exchange reserves in 2024, bringing the total to $10.644bn by December 2024, compared to $8.440bn in December 2023. After