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Gold prices in Egypt showed continued fluctuation at the beginning of the week, reflecting growing uncertainty in global markets. International political and economic developments have contributed to noticeable shifts in both local and global gold rates, with investors closely monitoring the yellow metal's performance as a traditional safe-haven asset.

Gold Prices in Egypt Today:

24K gold: EGP 5,326 per gram

21K gold: EGP 4,660 per gram

18K gold: EGP 3,994 per gram

Gold sovereign (8 grams of 21K): EGP 37,280

Global Gold Market Update:

On the international stage, gold prices climbed this past week, driven by trade tensions and rising global demand. The price of an ounce of gold rose by 0.6% over the week, breaking through the $3,350 resistance level—a key technical indicator that suggests a continued upward trend.

Highest price of the week: $3,368 per ounce

Lowest price of the week: $3,282 per ounce

Closing price: $3,355 per ounce

The steady rally is supported by strong momentum indicators and sustained investor interest, especially in light of ongoing protectionist policies in the U.S. and escalating global trade disputes.

Outlook:

Given the current macroeconomic landscape, gold is likely to maintain its appeal as a hedge against uncertainty. Analysts predict that if geopolitical tensions intensify further, gold prices may continue their upward trajectory in the short to medium term.