Egyptian gold price steadies near 5,840 EGP per gram

The price of 21‑carat gold in Egypt settled around 5,840 Egyptian pounds per gram, after a brief dip and modest recovery. The 24‑carat price was near 6,674 EGP and the 18‑carat price around 5,006 EGP. Globally, the ounce of gold traded close to $4,145 as the U.S. dollar weakened to about 49.5 EGP and U.S. Treasury yields rose.

Market participants are watching the upcoming minutes of the U.S. Federal Reserve meeting for signals on future monetary policy. In Egypt, the central bank recently set its policy rate, and inflation slowed to 14.3% year‑on‑year in June. The dollar’s lower level helped stabilize local gold prices. Meanwhile, strong demand from Asian investors, especially China—whose gold imports rose sharply—supports the market, even as the supply of small‑weight gold bars remains tight.

Analysts note that central‑bank purchases, geopolitical tensions, and higher oil prices continue to influence gold’s appeal as a safe‑haven asset in Egypt’s market.