Gold Prices Drop Midday in Egypt on Saturday, July 26
Gold prices in Egypt fell sharply during midday trading on Saturday, July 26, with a notable decline of EGP 35 compared to prices at the start of the day, according to Nady Naguib, former Secretary-General of the Gold Division.
Spot Gold Prices in Egypt
14-karat gold dropped to EGP 3,083 per gram.
18-karat gold fell to EGP 3,964 per gram.
21-karat gold, the most traded in Egypt, declined to EGP 4,625 per gram.
24-karat gold, known for its purity, slipped to EGP 5,285 per gram.
Gold Pound (Guinea) Price
The price of the gold pound (weighing 8 grams of 21-karat gold) rose slightly to EGP 37,000, though prices may vary slightly between retailers. This value reflects the pure gold content in the coin, excluding workmanship or additional fees.
Gold Bullion Prices
A 10-gram gold bar is priced at EGP 52,850.
A 50-gram gold bar is currently valued at EGP 264,250.
The price of a gold ounce (31.1 grams) stands at EGP 164,363.
Bullion prices are based on the current market rate of 24-karat gold and may vary slightly between dealers.
Global Gold Price
Globally, gold prices fell by 0.93% to around $3,337 per ounce, according to the latest update from Bloomberg. The ounce (or troy ounce) equals 31.1 grams of 24-karat gold.
It's worth noting that both today and tomorrow mark official holidays for international metals exchanges, meaning no further price movements are expected from global markets until trading resumes.