Gold Prices Hold Steady on Wednesday Morning, June 18, After EGP 30 Drop in 21-Carat Rate
Gold prices in Egypt remained stable on Wednesday morning, maintaining the levels recorded during yesterday’s session after 21-karat gold—Egypt’s most traded type—lost EGP 30 per gram, according to the latest data from the Gold Division of the Cairo Chamber of Commerce.
Global Markets Await Fed Decision
On the global front, gold prices also opened flat as investors awaited the U.S. Federal Reserve’s upcoming monetary policy decision. Spot gold was trading at $3,388.40 per ounce, according to Reuters.
Local Market Update – Wednesday, June 18
In Egypt, the precious metal began the day with no major changes across key karat levels:
24-karat gold: EGP 5,497 per gram (excluding workmanship fees)
21-karat gold: EGP 4,810 per gram (excluding workmanship fees)
18-karat gold: EGP 4,122 per gram (excluding workmanship fees)
Gold pound coin: EGP 38,480 (excluding workmanship fees)
The local market continues to reflect international trends, with price fluctuations closely tied to global economic indicators and investor sentiment ahead of key central bank decisions.