Monday 01/December/2025 – 04:40 PM
I registered Gold prices In the local and global markets, there was a noticeable increase during Monday’s trading, as the yellow metal rose to its highest level in about a month and a half, driven by increasing investors’ expectations regarding the US Federal Reserve’s direction towards lowering interest rates during its upcoming meeting this month.
Gold prices now
Saeed Embaby, Executive Director of the “iSagha” platform, stated that gold prices in the local markets rose today by about 25 pounds, with a gram of 21 carat gold – the most traded in Egypt – recording a level of 5,675 pounds.
At the global level, the ounce rose by about $37 to record the level of $4,253, continuing its gains supported by the decline of the dollar and the decline in US bond yields.
The price of a gram of 24 karat gold was 6,486 pounds, while a gram of 18 karat gold was about 4,864 pounds, while the price of the gold pound stabilized at 45,400 pounds, with no significant changes during today’s transactions.
During the month of November, gold prices locally continued to achieve strong gains of 5.6%, an increase of 300 pounds, as a gram of 21 karat gold opened the month’s trading at 5,350 pounds before closing at 5,650 pounds. At the global level, an ounce rose by 5.3%, equivalent to $213, rising from $4,003 at the opening to $4,216 at the close.
The last week of November also witnessed a new rise in local prices by 200 pounds, while an ounce gained globally during the same period about 151 dollars, which reflects the continued upward momentum of the yellow metal locally and globally.
According to the report, gold’s rise was supported by the increasing possibility of a US interest rate cut following conservative statements from a number of Federal Reserve officials, which caused the dollar to decline to its lowest level in about two weeks, which enhanced the demand for gold as a safe haven that does not achieve a return but benefits strongly from the decline of the US currency.
The report indicated that the state of caution prevailing in the markets, in addition to the escalation of geopolitical tensions related to the ongoing war between Russia and Ukraine, has played an additional role in supporting the demand for gold as it is one of the most important safe havens during periods of turmoil.
However, some investors remain hesitant to buy pending important US economic data released this week, most notably the ISM manufacturing index.
The report pointed out that statements by Federal Reserve Governor Christopher Waller, in addition to statements by New York Federal Reserve Bank President John Williams, contributed to consolidating expectations of an imminent interest rate cut. Also, the mixed US economic data released last week did not succeed in reducing investors’ appetite for gold.
In a related context, White House Economic Advisor Kevin Hassett said that he would be happy to assume the position of head of the US Central Bank if President Donald Trump chooses him, a statement that enhances the possibilities of lowering interest rates at greater levels during the coming period, and this statement contributed to pushing gold prices to their highest levels in six weeks during today’s trading.
At the global level, a special survey showed that the activity of the manufacturing sector in China declined to the contraction zone, following the decline of the official purchasing managers’ index for the eighth month in a row, which put pressure on the sentiment of global markets and increased concerns related to the growth of the global economy, especially in light of the increasing geopolitical risks.
At the same time, the Black Sea witnessed additional tension after two oil tankers belonging to the Russian fleet were attacked by Ukrainian drones.
US Secretary of State Marco Rubio also said that recent talks with Ukrainian officials were “very productive,” although more efforts are still needed to end the war.
During the week, investors are awaiting the release of a package of influential US economic data, which includes purchasing managers’ indices for the industrial and service sectors, in addition to industrial production data, labor market indicators, and unemployment claims.
It is expected that this data will play a pivotal role in determining the direction of gold’s movement against the dollar during the coming period.
