Gold Prices Dip to Monthly Low as US Rate‑Hike Outlook Dampens Demand

Global gold prices fell more than 1% on Tuesday, sliding toward a 12.7% monthly decline – the steepest drop since October 2008 – and on track for the largest quarterly fall since the second quarter of 2013. Analysts cited high inflation expectations, a strong US dollar and the possibility that the Federal Reserve will raise rates three times this year, with a 64% chance of an increase in September. Market participants await upcoming US employment data to gauge further policy moves.

In Egypt, local gold prices remained relatively steady on 30 June 2026, with 24‑carat gold quoted around 6,543 EGP per ounce (about 4,019 USD). At the same time, the Egyptian pound traded near 49.2 EGP per US dollar across multiple banks, reflecting a modest weakening of the currency.