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Global gold price reaches $4,400
Gold prices in Egypt have suddenly surged, with the price of a gram jumping by around 100 Egyptian pounds, coinciding with a global increase in the price of an ounce by about 65 dollars, approaching the $4,400 level. This rise is due to strong global demand for gold and the local market's response to international price movements, as investors monitor interest rate policies and global economic conditions. Currently, 21-karat gold is sold at an average of 6,300 pounds per gram, making it the most traded gold in the Egyptian market, while the price of the 24-karat gold pound at 50,400 pounds directly reflects market movements. It is worth noting that the gold increase comes amid a state of anticipation and global market movements, aiming to enhance its appeal as a safe haven amid economic and political tensions.
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