Thursday 21 Nov
Gold prices in the Egyptian market saw a noticeable decline today, Monday, July 8th, 2024. The price of 21-karat gold, the most popular choice in Egypt, dropped by about 10 Egyptian pounds, reaching 3220 Egyptian pounds per gram.
Here's a breakdown of current gold prices in the local
market:
Gold gram prices:
24 Karat: EGP 3686/gram
21 Karat: EGP 3220/gram
18 Karat: EGP 2764/gram
Gold Pound Price: EGP 25,800
The price of an ounce of gold on the global stock exchange
rose to $2400 last week, which positively impacted gold prices in the Egyptian
market. As a result of this surge, the price of 21-karat gold reached 3230
Egyptian pounds by the end of the week's trading.
Gold price forecasts in Egypt
Fuelled by a significant increase in the global price of an
ounce of gold, gold prices in the Egyptian market climbed near their highest
level since April. This rise follows a long period of price fluctuations in the
market.
The rise in global gold prices provided strong support for
the Egyptian market. Additionally, other factors influencing local gold pricing
stabilized, finally bringing an end to the period of fluctuations and
establishing price stability.
