Egypt Gold Prices Stay Flat as Global Markets Await US Rate Signals
Gold prices in Egypt were broadly unchanged at the start of Saturday’s trading, September 26, maintaining their sideways trend for a second straight session.
The price of 24-karat gold stood at EGP 7,102 per gram, while 21-karat gold reached EGP 6,235, 18-karat gold EGP 5,328, and 14-karat gold EGP 4,100. The gold pound was priced at EGP 49,925.
Gold Billion said the local market is attempting to build a new price floor above EGP 6,200 per gram, although upward momentum remains limited in the short term.
Meanwhile, the local market is being influenced by movements in the dollar and global gold prices. International gold gained 0.5% to $4,297 per ounce, but remained below the $4,300 level amid a stronger dollar and shifting expectations over US monetary policy.
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