Gold prices surge across Egypt after surprise 2% interest rate cut: See what each Karat costs now
Friday, 29 August 2025 () Gold prices in Egypt rose sharply on August 29, 2025, with 21-karat gold hitting EGP 4,650, following a 2% interest rate cut by the Central Bank. The move, aimed at boosting economic activity, coincides with global gold gains amid a weaker dollar. Lower rates typically drive gold demand, especially as inflation eases and local GDP growth improves.
Gold prices have reached an all-time high, rising nearly 30% this year alone. This modern gold rush has seen prices surpass $3,300 at a time, marking an incredible increase from just $1,100 a decade..
Friday, 29 August 2025 ()
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