Gold Prices in Egypt Drop by 1.18%

Gold prices in Egypt saw a noticeable decline of 1.18% today, according to Bakam's tracking data. The 24K gold price decreased to EGP 7,160 per gram, marking a drop of EGP 86 from the previous day.

Similarly, the price of 21K gold, the most popular in the Egyptian market, fell to EGP 6,265 per gram, representing a decrease of EGP 75.

For 18K gold, the price per gram reached EGP 5,370, down by EGP 64.

This decline in gold prices coincides with a slight drop in the US dollar's exchange rate in the Egyptian market, with the selling price at EGP 52.29, down by 0.23%.

Technical indicators show that the Egyptian market is experiencing normal fluctuations, with short-term average prices remaining stable at similar levels. It's noteworthy that the international ounce price for 21K gold reached USD 3,767.52, highlighting the global impact on local prices.