Gold Prices Stabilize in Egypt at Start of Monday Trading Amid Global Market Caution
Gold prices in Egypt remained largely stable at the start of trading on Monday, as local markets closely monitored global bullion movements amid ongoing uncertainty surrounding U.S. monetary policy and international economic conditions.
The price of 21-karat gold, the most widely traded category in the Egyptian market, recorded approximately EGP 6,815 per gram, while 24-karat gold stood at around EGP 7,789 per gram. Meanwhile, 18-karat gold was priced at nearly EGP 5,841 per gram, and the gold pound reached approximately EGP 54,520.
The relative stability in local gold prices comes as global markets continue to show cautious trading behavior following recent pressure on gold caused by the strengthening of the U.S. dollar and rising U.S. Treasury yields.
Market analysts believe gold remains highly sensitive to expectations surrounding future interest rate decisions by the U.S. Federal Reserve, as higher interest rates typically reduce the attractiveness of non-yielding assets such as gold.
Despite recent fluctuations, gold continues to maintain its position as one of the world’s primary safe-haven assets, particularly amid ongoing geopolitical tensions and concerns over the global economic outlook.
Traders in the Egyptian market are also monitoring currency movements and local demand trends, which continue to influence pricing dynamics alongside international gold benchmarks.
Industry observers expect gold prices to remain volatile in the coming period as investors react to upcoming economic data, inflation indicators, and signals from major central banks regarding the future path of monetary policy worldwide.