Gold prices in Egypt declined at the close of trading on Sunday evening, following a temporary increase of 15 EGP per gram earlier in the day. The average gold price stood at 5415 EGP per gram. This drop comes after the metal lost over 500 EGP per gram across various carats in recent weeks.
Gold Prices by Carat:
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24-carat: 6188 EGP selling, 6245 EGP buying.
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21-carat: 5415 EGP selling, 5465 EGP buying.
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18-carat: 4641 EGP selling, 4684 EGP buying.
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14-carat: 3610 EGP selling, 3643 EGP buying.
Other Gold Prices:
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Gold Pound: 43.32k EGP selling, 43.72k EGP buying.
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Gold Ounce: 4064 USD selling, 4065 USD buying.
The fluctuation in prices is attributed to global anticipation of the upcoming US interest rate decision and inflation reports, as well as the impact of the dollar and oil price movements on the local market.
Despite the current decline, gold remains a safe haven for Egyptian investors, especially amid ongoing concerns over global inflation and rising costs.
