Gold Prices Stabilize in Egypt After Recent Decline as 21-Karat Hits EGP 6,815
Gold prices in Egypt stabilized at the beginning of Saturday’s trading session following the latest decline recorded earlier this week, with 21-karat gold — the country’s most traded category — maintaining levels near EGP 6,815 per gram.
According to the latest market updates, 24-karat gold recorded approximately EGP 7,788 per gram, while 18-karat gold stood at around EGP 5,841 per gram. The gold pound also reached EGP 54,520.
The local gold market had witnessed a slight decline during previous trading sessions, with 21-karat gold losing nearly EGP 10 before prices stabilized again amid cautious market movements.
Globally, spot gold prices recorded around $4,509.42 during Saturday trading, reflecting continued volatility in international precious metals markets amid ongoing geopolitical tensions and global economic uncertainty.
Market observers expect gold prices to remain sensitive to developments related to global interest rates, inflation trends, and geopolitical risks, all of which continue to influence investor demand for safe-haven assets.