2 February 2025
Gold prices have surged today amid global financial market instability, reaching $2,000 per ounce, the highest level in three months. This increase is driven by concerns over inflation and slowing economic growth in several countries, prompting investors to turn to gold as a safe haven. The weakening US dollar has also contributed to the rising demand for the yellow metal. Economic expert Ahmed El-Sayed stated, "Gold remains a preferred option during economic crises. With ongoing market tensions, it is expected to maintain its gains in the coming period." On the local level, gold prices in Egypt have risen, with 21-karat gold reaching approximately EGP 2,500 per gram, as demand continues to grow amid expectations of further price increases.
