Gold Prices Drop, Dollar Steady in Egypt

Gold markets in Egypt experienced a slight decline in prices today. According to Bakam data, the price of 24-carat gold fell by 0.22% to EGP 7,743 per gram, representing a drop of EGP 17 compared to yesterday. Additionally, the price of 21-carat gold decreased to EGP 6,775 per gram, a reduction of EGP 15.

Similarly, the price of 18-carat gold also fell by 0.22% to EGP 5,807 per gram, marking a decrease of EGP 13 from the previous day.

Regarding foreign currencies, the dollar remained steady at EGP 52.58 for selling, with a slight increase of 0.02% from yesterday, while the buying price was EGP 51.85. Other currencies saw the Saudi Riyal priced at EGP 13.83 for buying and EGP 14.02 for selling, and the Kuwaiti Dinar at EGP 167.72 for buying and EGP 170.08 for selling.

It is noted that the market witnessed relative stability in gold prices, with technical analyses indicating a balanced market and low volatility of 0.1% for 21-carat, reflecting a calm movement in the market.