Egypt Gold Prices Hold Steady Saturday Morning After Friday’s Closing Rally
The Egyptian local market is anticipating the start of Saturday’s trading session at 10:00 AM, following a notable price hike recorded late Friday. Market analysts are closely monitoring the 21-karat gold performance, which remains the most popular benchmark in the country.
By the end of Friday’s session, the Gold Pound (8g, 21k) was valued at EGP 55,000 (raw gold value excluding craftsmanship, taxes, and duties). For individual weights, 24-karat gold reached EGP 7,857 per gram, while 21-karat gold traded at EGP 6,875. Lower denominations like 18-karat and 14-karat were recorded at EGP 5,892 and EGP 4,583, respectively.
For those looking to sell (buy-back prices for scrap gold), 21-karat gold stood at EGP 6,775, reflecting a narrow spread as the market awaits the morning opening bell.
