\u062f\u0628\u064a \u2013 Gold prices in Egypt declined by approximately 10 pounds during trading sessions on Saturday, September 19, 2026. This reduction represents the first drop following four consecutive sessions of gains. The price for 21-karat gold, which is the most traded variety in the Egyptian market, was recorded at 6380 pounds per gram.<\/p>\n
The local decrease occurred despite a rise in international gold prices and stability in the exchange rate of the Egyptian pound against the US dollar. These conditions coincided with official bank holidays. According to specialized energy platform monitors tracking local and global gold markets, the domestic price movement reflected broader economic dynamics.<\/p>\n
In previous sessions, gold prices in Egypt had ended Friday\u2019s trading with an increase of about 55 pounds. This followed a rise of 65 pounds on Thursday, 20 pounds on Wednesday, and 30 pounds on Tuesday. These gains helped compensate for losses recorded on Monday, which amounted to 45 pounds.<\/p>\n
The local decline in gold prices aligned with global metal movements amid falling oil prices. Market participants focused on developments in the Middle East and expectations regarding global monetary policy. Specifically, attention centered on the decision by the US Federal Reserve to raise interest rates. Despite the rise in the global ounce price by nearly 25 dollars, the local currency remained stable at 52.20 pounds.<\/p>\n
By 08:20 am Greenwich time, the US dollar was valued at 52.20 Egyptian pounds. Gold prices vary from one jeweler to another based on craftsmanship value, taxes, and stamp duties. Differences also arise depending on the type of jewelry and the place of sale. The spread between buying and selling prices typically ranges between 20 and 30 pounds per gram.<\/p>\n
Craftsmanship costs are higher for 18-karat jewelry compared to 21-karat items, ranging from 6% to 14% of the gram value. The 21-karat gold remains the most traded variety in the Egyptian market, particularly in Cairo and the Delta and Upper Egypt provinces. A wide segment of consumers relies on it for gold jewelry and savings operations.<\/p>\n
Internationally, gold spot prices rose by 0.6 percent, equivalent to 24.53 dollars, reaching approximately 4391.23 dollars per ounce on Friday. December 2026 futures contracts surged by 0.86 percent, or 37.70 dollars, to reach 4437.40 dollars per ounce.<\/p>\n
Gold prices received support from declining oil prices due to reports that Saudi Arabia offered additional crude shipments via Oman. The US Federal Reserve raised interest rates by 25 basis points on Wednesday, setting them between 3.75% and 4%. Goldman Sachs maintained its year-end 2027 gold forecast at 5400 dollars, stating that tighter policy would slow but not stop price increases.<\/p>\n
The Bank of England kept interest rates unchanged on Thursday while warning of potential hikes. Meanwhile, the Bank of Japan raised rates to their highest level in 31 years on Friday, committing to further actions to combat inflation risks.<\/p>\n
This story was produced in the newsroom from the disclosed sources named above.<\/em><\/p>\n