Gold pound prices in Egypt rose to 19,480 Egyptian pounds in spot trading today, April 20, without the addition of any manufacturing costs to the pound. The manufacturing cost of a gram of gold in the pound ranges from 40 to 50 Egyptian pounds.

The gold pound is one of the most desired products in Egypt at the moment, weighing 8 grams of 21-carat gold, making it the most popular among Egyptians. The gold pound comes in various shapes, although the most widespread is the pound with a drawing of King George.

Markets had priced in a lack of interest rate increases in June, but after supportive statements from Federal Reserve officials calling for further monetary tightening, new possibilities of a reduction in interest rate increases have emerged for the bank's meeting in June. However, the majority still expects the Fed to pause temporarily after the May meeting, and the global gold price is expected to reach above $2000.

A report by Gold Billion indicated that the possibility of higher interest rates is a warning sign for gold and other metals, as it increases the opportunity cost of holding non-yielding assets such as gold.

However, precious metals have benefited from increased demand for safe-haven assets amid concerns that rising interest rates will hamper economic growth this year, particularly with the continued specter of the banking crisis, which keeps market concerns alive.

Despite concerns over the banking crisis and rising interest rates, Egypt's economy has shown significant resilience, with GDP growth projected to remain robust. In addition, the country's central bank has taken proactive measures to stabilize the economy, including increased foreign reserves and continued implementation of structural reforms.