Global gold prices recorded a significant rise today, Wednesday, September 3, 2025, with the ounce climbing to $3,536, driven by strong buying amid global economic tensions and increased demand for safe havens.

Limited Increase in Egypt Thanks to Pound Stability

Despite the continued rise in global gold prices, increases in the Egyptian market were limited due to the stability of the Egyptian pound against the dollar, which mitigated the impact of the global surge on the local market.

Gold Prices in Egypt on Wednesday, September 3, 2025

    • 24 carat price: approximately 5451 EGP per gram.
    • 21 carat price (most traded): approximately 4780 EGP per gram.
    • 18 carat price: approximately 4089 EGP per gram.
    • The price of the gold pound broke the 38,160 EGP barrier for the first time.

    Factors Affecting Prices

    Globally: The ounce rose to $3,536, driven by fears of a global recession and increased investment demand for gold as a safe haven.

    Locally: Stability of the pound against the dollar reduced the impact of the global jump, keeping the rise in Egypt at relatively lower levels.

    New Record Prices

    Gold prices on global exchanges continued their record rise on Wednesday, supported by market uncertainty and growing investor confidence that the US Federal Reserve will cut interest rates this month.

    Spot gold rose 0.1% to $3,536.58 per ounce, after touching a historic high of $3,546.99 earlier in the session, while US December gold futures rose 0.3% to $3,602.40.

    Political and Legal Pressures Increase Uncertainty

    The administration of US President Donald Trump announced it will appeal to the Supreme Court for a swift ruling on tariffs deemed illegal by an appeals court last week. Ilya Spivak, Head of Global Macro Economics at Tastylive, told Reuters:

    “The Supreme Court decision has introduced a lot of uncertainty into the market, as it could radically change the economic landscape if the rulings do not favor the president.”

    He added that attempts to undermine the Fed’s independence represent a “dangerous development,” emphasizing that the current momentum in gold is clearly one-sided and upward.

    US Interest Rate Expectations

    US futures contracts indicate that markets are pricing in a 92% chance of a 25 basis point rate cut at the monetary policy meeting scheduled for September 17, according to the FedWatch tool by CME Group.

    Gold, which yields no income, usually performs well in a low-interest-rate environment.

    Jump in Gold-Backed Fund Reserves

    The SPDR Gold Trust, the world’s largest gold-backed fund, revealed its reserves rose by 1.32% last Tuesday to 990.56 tons, the highest level since August 2022.

    Performance of Other Precious Metals

    • Spot silver price fell 0.1% to $40.84 per ounce, after reaching the highest level since September 2011 in the previous session.
    • Platinum dropped 0.6% to $1,395.03.
    • Palladium declined 0.4% to $1,129.58.