You bought gold and they told you the price would go down and you would lose your money or you had money and you knew that the gold would go down and you would lose your life’s worth.. Before you decide what to do in both cases.. Watch this video first and then you will decide
Gold prices in 2024 witnessed unprecedented record highs due to many factors, including geopolitical conflicts in the world, disruption of shipping lines and international trade, and the trend to reduce US interest rates in conjunction with increased demand for the yellow metal from global central banks. The price of gold globally reached record levels that at one time approached… 2750 dollars, but after Trump’s victory and the announcement of his known policy of supporting the dollar and his pledge to end the conflicts in the Arab region, Russia and Ukraine, the price of gold fell significantly in recent days, but other forecasts emerged saying that this decline is temporary and that gold will return strongly again, and Goldman Sachs, for example, said that Gold will reach $3,000 at the beginning of 2025, and it will continue to increase.
Many people said that Goldman Sachs’s expectations were exaggerated, but hours after the World Bank’s report was issued, the markets responded and supported all of its expectations, and the prices of the yellow metal increased again. Today, gold prices rose to their highest level in a week, supported by the decline of the US dollar, at a time of anticipation. Markets Fed officials’ statements for signals about the path of US interest rates.
The price of gold rose in spot trading by 0.40% to reach $2,622.70 per ounce, the highest level since November 12, after a 2% increase in prices in trading yesterday, Monday. Gold futures contracts in the United States also rose by 0.49% to $2,627.30 per ounce.
This means that the main reason for the rise in the price of gold is the decline of the US dollar after a strong wave of gains last week, and as we know, the relationship between them is completely inverse, and the decline of the dollar reduces the cost of gold for buyers who hold other currencies, and this is what Kyle Rhoda, a financial markets analyst at, said. Capital.com.. also favors the US interest rate, a very important factor in determining the fate of gold prices, and the latest strong economic data has raised expectations of a continued reduction in interest rates from the Federal Reserve, which has reduced interest rates by 75 basis points since September, and the markets are awaiting the statements of bank officials, amid expectations The market expects the interest rate to be reduced by 25 basis points next December, with an expectation rate of 58.8%, compared to 41.2% for the possibility of keeping it unchanged. This means, of course, an increase in the price of gold because investors will change the direction of their investments from reducing the interest rate to another type of investment, which is usually gold, and here the demand will return. It increases and therefore its price will rise again.
Ok, what will happen in the Egyptian goldsmiths?
As we said before, the gold market in Egypt is linked to the global market because gold companies and merchants sell it in dollars and the international price will have a direct impact on determining the price of gold in Egypt. This means that prices in Egyptian goldsmiths will rise again and in a very large way, and this is what we said here in Banker has been around for a long time, so it is normal that if you have gold, keep it and do not spend it now, and if you have extra money, the time is very appropriate for you to buy, invest and earn.
