Gold Prices in Egypt Drop by 0.81%

In the latest developments in the Egyptian markets, "Bakam" platform observed a decline in gold prices across various carats. The price of 18-karat gold fell to EGP 5,773 per gram, marking a decrease of 0.81%, equivalent to EGP 47 from yesterday's price. Similarly, 21-karat gold saw a similar drop of 0.81% to EGP 6,735 per gram, a decrease of EGP 55 compared to the previous day. Meanwhile, 24-karat gold reached EGP 7,697 per gram, registering a decline of EGP 63.

In related news, the US dollar continues to show stability in the Egyptian market, with the selling price at EGP 52.59 and the buying price at EGP 51.86, with a slight stability of 0.04% compared to the previous day.

Regarding the technical analysis indicators for 21-karat gold, data showed market stability, with low volatility at 0.3%, indicating a calm and balanced market. The moving averages for seven and fourteen days recorded similar levels, confirming this price stability.

On the other hand, the price of silver remained steady at EGP 131.00 per gram.

This drop in gold prices comes amid a state of anticipation in global and local markets, where various economic factors play a role in determining the future trajectory of prices.