Gold Prices Hold Steady in Egypt on Saturday as Global Markets Remain Closed
Gold prices in Egypt remained stable on Saturday, marking the second consecutive day of price stability, in line with the weekend closure of global bullion markets.
The price of 24-carat gold was quoted at EGP 5,474 per gram for new gold, while used 24-carat gold was buying back from the public at around EGP 5,446 per gram.
Meanwhile, 21-carat gold, the most commonly traded in Egypt, was sold at EGP 4,790 per gram, while used 21-carat gold was purchased from the public at EGP 4,765 per gram.
In the gold souq (local market), 18-carat gold recorded EGP 4,106 per gram (selling price) and EGP 4,084 per gram (used, buyback price).
14-carat gold stood at EGP 3,193 for new gold, and EGP 3,177 per gram for used gold.
Gold Pound Price Today
The price of the gold pound (weighing 8 grams of 21-carat gold) stood at EGP 38,320 (new), while the buyback price for used gold pounds was approximately EGP 38,120, excluding taxes, hallmarking, and workmanship fees.
Global Gold Price Update
Globally, gold prices declined slightly on Friday, with the ounce dropping by $2, to close at around $3,368 in international markets.
Despite short-term pressure on gold prices following the U.S. Federal Reserve’s decision to hold interest rates steady, the move reinforced the metal's appeal as a traditional safe-haven asset. This is particularly relevant amid escalating geopolitical tensions, which continue to drive investor interest in gold as a hedge against uncertainty.