Gold Prices Hold Steady in Egypt on Saturday, August 9 Amid Global Market Closure
Gold prices in Egypt remained stable on Saturday, August 9, as the global gold market observed its weekend closure, following a weekly gain of approximately $35.
The international gold exchange ended Friday’s trading at $3,398 per ounce, up from $3,363 at the start of the week.
Domestic gold prices stayed unchanged from Friday’s closing levels, with 21-karat gold — the most commonly traded in Egypt — ranging between EGP 4,615 and EGP 4,620 per gram. The average spread between buying and selling prices stood at around EGP 20.
Below are the latest gold prices in Egypt, excluding workmanship fees, which vary depending on the retailer, region, and product type.
Gold Workmanship Fees
Workmanship (or making charges) in Egypt typically range between 3% and 7% of the gram price, though rates can be slightly higher depending on the craftsmanship involved. Fees also vary by gold karat, with 18-karat pieces generally carrying higher charges than 24-karat gold used in bullion, which tends to have the lowest workmanship costs.
Latest Gold Prices in Egypt (Saturday, August 9)
24-karat gold: EGP 5,274 per gram
21-karat gold: EGP 4,615 per gram
18-karat gold: EGP 3,956 per gram
14-karat gold: EGP 3,077 per gram
Gold pound (8 grams of 21-karat): EGP 36,920
Global gold price: $3,398 per ounce