The price of gold in Egypt witnessed stability after gold moved near its highest level in more than seven weeks, supported by the weakness of the dollar and the decline in US bond yields ahead of the release of key jobs data, recording an increase for the fifth session in a row.
Gold prices today, Wednesday 12-17-2025 in Egypt:
– 24 karat: 6606 pounds.
– 21 caliber: 5780 pounds.
– 18 karat: 4954 pounds.
– Gold pound: 46,240 pounds.
Demand for gold is strong
Demand for gold may remain strong as markets await the release of US non-farm payrolls data, as indicators of a weak labor market will keep short-term bond yields limited and the dollar weak, supporting gold’s rise towards the $4380-4440 per ounce area.
The focus this week is on US non-farm payrolls and CPI data for November. The jobs data, typically released on the first Friday of each month, was delayed by a prolonged government shutdown in October and November.
But markets will be closely watching for any further signs of slowing labor market growth and lower inflation, since those two factors are the Fed’s most important considerations for cutting interest rates. This data will also be the latest official economic indicators available to markets after the government shutdown disrupted many of October’s key data.
Markets are still focused on the Federal Reserve’s monetary policy outlook after the US central bank cut interest rates by 25 basis points last week in a decision that saw division among members, pointing to the possibility of a temporary pause given inflation continues to rise and the labor market outlook is unclear.
On the other hand, the Chinese Central Bank announced purchases of gold for the thirteenth consecutive month, adding another 0.9 tons in November, bringing its total purchases to 2,305 tons, equivalent to 8.3% of China’s foreign exchange reserves.
