Egypt’s Gold Market Eyes Wednesday Opening After Prices End Tuesday Higher
Gold prices in Egypt are entering Wednesday’s session from higher levels after the precious metal gained ground toward the end of Tuesday’s trading.
The local market is awaiting the start of Wednesday, October 28 trading, with the latest figures showing 21-karat gold at EGP 6,400 per gram for selling.
Latest Gold Prices Before Wednesday’s Opening
Among the main gold grades, 24-karat gold was last quoted at EGP 7,314 per gram for selling.
The 21-karat grade stood at EGP 6,400, while 18-karat gold reached EGP 5,485 and 14-karat gold was priced at EGP 4,266 per gram.
Eight-Gram Gold Pound Valued at EGP 51,200
The 21-karat gold pound ended Tuesday’s trading at around EGP 51,200 in Egypt’s jewelry market.
Each gold pound weighs eight grams, and the quoted figure reflects the value of the gold itself without workmanship costs, taxes or hallmarking fees.
Used Gold Records Lower Buying Rates
For used gold, the buying rate for 24-karat gold stood at EGP 7,240 per gram, while 21-karat gold recorded EGP 6,335.
Buying prices reached EGP 5,430 for 18-karat gold and EGP 4,223 for the 14-karat grade.
New Session Could Set the Direction for Prices
Attention now turns to Wednesday’s local trading session as the market awaits updated prices following Tuesday’s late-session gains.