A strong dollar limits gold's strength despite weekly gains.

Gold prices stabilized in local markets during trading today, Saturday, coinciding with the global stock market's weekly holiday. The ounce reached an all-time high, ending the week with a 1.3% gain, driven by safe-haven demand and bets on interest rate cuts.

Gold prices in local markets witnessed a state of stability during trading today, compared to yesterday's close. The price of a gram of 21-karat gold reached 4,280 Egyptian pounds, while an ounce gained approximately $39 during the week, reaching $3,024.

A gram of 24-karat gold reached 4,891 Egyptian pounds, a gram of 18-karat gold reached 3,669 Egyptian pounds, while a gram of 14-karat gold reached approximately 2,854 Egyptian pounds, and the gold pound reached approximately 34,240 Egyptian pounds. Meanwhile, gold prices in local markets fell by about 25 Egyptian pounds during trading on Friday, with the price of a gram of 21-karat gold opening at 4,305 Egyptian pounds and closing at 4,280 Egyptian pounds. Meanwhile, gold prices on the global stock exchange fell by about $21, opening at $3,045 and closing at $3,024.

Gold prices on the global stock exchange continued to achieve record highs, concluding the week's trading with gains of more than 1% despite the declines that affected gold during trading on Friday, due to profit-taking, after the ounce touched an all-time high of $3,058 on Thursday, March 20.

Renewed concerns about global economic growth, due to the threat of Donald Trump's trade war and bets on a US interest rate cut, have driven demand for safe haven assets to record highs by investors who use gold as a hedge against global economic and political uncertainty. Federal Reserve Chairman Jerome Powell's remarks during last Wednesday's press conference revealed that the most common word at the conclusion of the Federal Open Market Committee meeting was "uncertainty," and therefore prices will continue to rise, as it is viewed as a safe haven.

Markets are experiencing uncertainty regarding the Federal Reserve's stance on interest rates, ongoing geopolitical risks, and US trade policies, and none of these factors appear likely to change significantly in the near term, making a sharp decline in gold prices unlikely.

The US dollar's rise at the end of the week, reaching a two-week high, limited gold's gains.

Geopolitical risks remain a major driver of gold prices, as Israel escalated its military campaign in Gaza, ending a two-month ceasefire, while trade tensions between the United States and China persist. These developments continue to reinforce gold's role as a hedge during periods of uncertainty. The yellow metal has already reached 16 record highs this year. Federal Reserve officials struck a cautious tone, indicating they would not rush to cut interest rates due to uncertainty over Trump's tariffs. New York Fed President John Williams said the central bank's 2% target is not up for debate, adding that the current, slightly accommodative monetary policy is "perfectly appropriate." Later, Chicago Fed President Austin Goolsbee stated that when there is a lot of uncertainty, one should wait for clarity. Meanwhile, markets are awaiting US consumer confidence data on Tuesday, particularly given the growing economic uncertainty among Americans, along with data on the US core personal consumption expenditures (PCE) index, personal income and spending, on Friday—the Fed's preferred inflation gauge—for clues about the Fed's monetary policy direction.