Egypt Gold Prices Dip on July 29, 2026, as Global Spot Prices Ease Ahead of Fed Rate Decision

Wednesday 29 July 2026 09:53

Gold prices in Egypt edged lower during early trading on Wednesday, July 29, 2026, tracking a slight pullback in global spot prices as financial markets await the conclusion of the US Federal Reserve’s monetary policy meeting.

Global Market Overview

Global spot gold slipped 0.1% to $4,021.87 per ounce by 00:52 GMT, while US gold futures for August delivery fell 0.4% to $4,021.70 per ounce. The decline comes as a stable US dollar and market expectations that the Federal Reserve will hold interest rates steady keep investors cautious ahead of key signals on inflation and future rate cuts.

Local Gold Rates in Egypt

In the domestic Egyptian market, retail rates across key purities dropped in line with international movements (excluding craftsmanship and processing fees):

24-Karat Gold (Highest Purity): Recorded EGP 6,714 for selling and EGP 6,657 for buying per gram.

21-Karat Gold (Most Popular): Stood at EGP 5,875 for selling and EGP 5,825 for buying per gram.

18-Karat Gold: Quoted at EGP 5,036 for selling and EGP 4,993 for buying per gram.

Gold Sovereign (Pound): Reached EGP 47,000 for selling and EGP 46,600 for buying.