Gold Prices Hold Steady Amidst Global Market Shifts
Local Markets Show Remarkable Stability as International Factors Influence Trends
Gold prices in local markets have demonstrated striking stability as of Thursday, July 24, 2025. This calm is occurring despite significant global movements in the precious metal’s value.
Current Gold Valuations
The price per gram for 24-carat gold is currently 5360 pounds. Meanwhile, 21-carat gold is trading at 4690 pounds per gram, and 18-carat gold is valued at 4020 pounds per gram. Consumers can expect to pay 3127 pounds for a gram of 14-carat gold. The gold pound in Egypt is priced at 37520 pounds.
Global Gold Market Sees Uptick
Internationally, gold has experienced an upward trend, climbing 2.2% since the week’s commencement. The precious metal has surpassed the $3400 per ounce mark and is currently encountering resistance within the $3420 to $3450 range.
Trade Talks and Market Sentiment
In parallel, upcoming trade discussions between US and Chinese officials are set to take place in Stockholm. These negotiations, aimed at extending the deadline for a trade agreement until August 12, could influence market sentiment. US Treasury Secretary **Scott Bessent** highlighted the importance of these talks.
An increase in commercial deals prior to August might boost risk appetite, potentially decreasing demand for gold. Conversely, continued pressure on the US dollar could push gold prices towards $3500 per ounce in the short term.
US Dollar Weakens, Boosting Gold
The US dollar has softened, trading near a two-week low against a basket of major currencies. This weakening dollar makes dollar-denominated assets like gold more affordable for holders of other currencies. Concurrently, US 10-year Treasury yields dipped to their lowest point since July 9.
President **Trump** has continued his criticism of Federal Reserve Chair **Jerome Powell**, labeling him “foolish” for maintaining high-interest rates and predicting his departure from office within eight months.
Speculative Demand for Gold Increases
Recent data from the Futures Trading Committee reveals a surge in speculative interest in gold. For the week ending July 15, purchase contracts for gold futures increased by 8,542 contracts, while sales contracts saw a decrease of 1,605 contracts.
This shift suggests a renewed demand for gold speculation, driven by evolving geopolitical pressures and a focus on trade agreement outcomes. According to the World Gold Council, global central bank gold purchases reached a record 400 tonnes in the first half of 2024, indicating sustained institutional interest.
