Dollar Decline and Gold Prices Rise in Egyptian Market

The Egyptian market witnessed significant shifts in currency and precious metal prices today. According to "Bkam" data, the US dollar decreased by 1.29% to 52.63 EGP for selling, while the buying rate stood at 51.90 EGP.

Conversely, gold prices saw a slight increase with 18K gold recording 5,842 EGP per gram, up by 0.29%, equivalent to a 17 EGP increase from the previous day. Similarly, 21K gold also rose by 0.29% to 6,815 EGP per gram, an increase of 19 EGP. Meanwhile, 24K gold reached 7,788 EGP per gram, rising by 22 EGP or 0.28%.

Technical data indicates high volatility in the gold market, with 21K gold showing short-term bearish signals according to technical analysis indicators, reflecting a state of market fluctuation.

Regarding other currencies, the Saudi Riyal was at 14.03 EGP for selling, the UAE Dirham at 14.33 EGP, and the Kuwaiti Dinar at 170.3 EGP. Additionally, the Euro was priced at 61.26 EGP, and the British Pound at 71.03 EGP.

These changes reflect the economic instability the Egyptian market is experiencing, as prices are significantly affected by global and local fluctuations.