Significant Drop in Gold Prices in Egypt on Thursday, July 31, 2025
Gold prices in the Egyptian market witnessed a noticeable decline today, Thursday, July 31, 2025, with various carats experiencing clear drops. Notably, the 21-carat gold price fell to 4500 EGP, down by 15 EGP compared to the previous price. This decline is part of global market fluctuations that directly impact local prices.
Gold Prices Details as of Report Time
The prices varied among different carats as follows:
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24-carat gold: 5142 EGP
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21-carat gold: 4500 EGP
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18-carat gold: 3857 EGP
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Gold pound: 36000 EGP
US Federal Reserve Decision and Its Impact on Global Markets
The US Federal Reserve announced on Wednesday the decision to keep the main interest rate steady between 4.25% and 4.50%, marking its fifth meeting this year without any rate change.
This decision came amid increasing pressure from US President Donald Trump on Federal Reserve Chair Jerome Powell to lower interest rates to stimulate economic growth. However, Powell remains cautious and continues a conservative monetary policy amidst global economic risks.
Effects of the Decision on Local Gold Prices
The Federal Reserve’s rate stabilization influenced gold prices worldwide, causing fluctuations in the precious metal’s value. This impact reached the Egyptian market, contributing to a notable drop in gold prices, especially as investors await further developments in US monetary policy and its global market repercussions.
