What will happen in the gold market in the coming period, especially after the price of the dollar exceeded 50 pounds in the first bank transactions on Sunday… and what is the relationship of the dollar to the yellow metal and what is the market saying… Stay with us until the end and you will know the details in this report.
It is known throughout the world that the relationship between gold and the dollar is inverse. This means that each one is walking in a path completely opposite to the other. This means that if the price of the dollar increases, then the price of the gold will fall automatically, and if the price of the dollar falls, then the price of gold will increase, and so on, because gold here is considered a safety tool for global central banks and investors. When the price of the dollar declines, central banks buy it to compensate for the decline in the value of the dollar in the monetary reserve and at the same time, or as a hedge against geopolitical risks in the world.
The truth is that the world still has many crises, all of which pose a threat to international trade, especially in the Middle East region, where all conflict money increases, the latest of which is the events in Syria, which makes the demand for the yellow metal increase because no one knows what tomorrow will happen. Before the events in Syria, many international banks and research centers expected the continued rise. Gold globally reaches $3,000, and they have their reasons for what we mentioned.
I mean, expectations say that gold prices, especially in 2025, will continue to rise, with the return of the People’s Bank of China or the Central Bank to operations to purchase gold, and this is what was announced hours ago, and the operations of the Chinese Central Bank in purchasing gold before that created a very large increase in demand for the yellow metal, and it was one of The reasons for the rise in global prices mean that there are other central banks that will enter into the race to buy gold globally, and this means a continuous increase in prices.
Ok, where are the gold prices in Egypt going?
The goldsmiths market in Egypt is of course linked to international markets, and because Egypt imports a large portion of gold, and in exchange for the dollar, this means that gold in Egypt will reach new heights in the coming period. A little while ago, Dr. Naji Farag, advisor to the Minister of Supply, revealed that gold is expected to rise in the coming period to reach 3,850 pounds. For 21 carat, the official said this because he expects prices to increase globally with the geopolitical tensions in the Middle East. He said that this would also be reflected in the local price, and he also expected the local gold price to reach 4,500 pounds per gram if the price of gold reached $3,000 per ounce globally if international conflicts continued.
Of course, all experts advise those who want to invest in gold to buy now and be sad because prices will rise significantly in the coming period.
