We provide an immediate update on today’s gold prices in the Egyptian market, with limited changes in 21-carat and all gold carats amid halted trading on global gold exchanges.

Global gold managed to rise for the second consecutive week after finding support from increased demand for safe-haven assets amid ongoing global trade tensions, alongside expectations of interest rate cuts and recent news about U.S. tariffs on gold imports.

The global gold ounce price rose by 1% last week, reaching a high of $3,409 per ounce after opening the week at $3,364 per ounce and closing at $3,397 per ounce.

Gold rose for the second consecutive week and managed to trade above the $3,400 per ounce level during the week, but closed below this level, indicating insufficient upward momentum to sustain trading above this level.

The overall rise in global gold prices last week came at the expense of a decline in the U.S. dollar, which traded near its lowest levels in a week, along with a drop in the 10-year U.S. government bond yields to the lowest level in a month, supporting gold due to its inverse relationship with the dollar and Treasury yields.

Weak recent U.S. job data increased market expectations that the Federal Reserve is on track to cut interest rates to counter any early slowdown in employment and growth, with markets placing nearly a 90% probability on a rate cut for the first time this year in September.