Gold Drops by 15 Pounds… 21-Carat Reaches 4,555 Pounds
The local price of 21-carat gold dropped to 4,555 pounds despite the global rise in the ounce price.
Gold prices in local markets fell on Monday, May 19, 2025, despite a global rise in the price of gold ounces amid escalating geopolitical tensions in the Middle East and a decline in the US dollar, according to the “iSaghah” platform.
The price of 21-carat gold dropped by about 15 Egyptian pounds to reach 4,555 pounds, while the ounce price decreased by approximately $5 to $3,239.
Latest gold prices in Egypt:
24-carat: 5,205 pounds
18-carat: 3,904 pounds
14-carat: 3,036 pounds
Gold pound (8 grams): 36,440 pounds
Globally, gold prices rose after Moody’s downgraded the US credit rating, increasing demand for safe-haven assets.
Gold futures jumped 1.87% to $3,246.80 per ounce, while the spot price increased 1.16% to $3,240.71.
Silver and platinum also rose, while the US Dollar Index fell by 0.96% to 100.12 points, supporting the continued strength of gold prices worldwide.
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