Gold prices dip in Kuwait and Saudi Arabia on Saturday
On Saturday, 1 August 2026, the price of gold fell modestly in both Kuwait and Saudi Arabia. In Kuwait, 21‑karat gold was quoted at 5,935 EGP per gram for sale and 5,885 EGP for purchase, while 24‑karat gold traded at 6,782.75 EGP (sell) and 6,725.75 EGP (buy). The global spot price of an ounce of gold was reported at $4,045.37 (sell) and $4,043.84 (buy).
In Saudi Arabia, 24‑karat gold was listed at 487 SAR per gram, 21‑karat at 426 SAR, and 18‑karat at 365 SAR, all on the sell side. Analysts note that central‑bank purchases and broader market dynamics continue to influence gold’s valuation, with expectations of further price movement depending on interest‑rate trends and investor demand.
These price updates reflect localized market conditions and the ongoing influence of global commodity trends on regional gold markets.
Entities: Central Bank of Egypt · Dr. Ramadan Ma'an · Dr. Ramadan Ma’n · Egypt · Egyptian pound · Egyptian pound · Ethereum · Gold · Gold · Gold (commodity) · Kuwait · Saeed Imbabi
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [○ 1 SOURCE] The US dollar was quoted at roughly 51.10 EGP per USD across major Egyptian banks on 31 July 2026. (bank exchange rate listings)
- [○ 1 SOURCE] Global silver fell 2.1 % to $57.76 per ounce, platinum fell 0.6 % to $1,650.14, and palladium fell 1.8 % to $1,281.18. (international precious‑metal price data)
- [● 2 SOURCES] The price of 24‑karat gold in Egypt was about 6,800 EGP per gram on 31 July 2026. (price listings in Egyptian gold markets)
- [○ 1 SOURCE] The US Federal Reserve kept its benchmark interest rate unchanged on 31 July 2026. (Federal Reserve policy announcement)
- [○ 1 SOURCE] Gold prices in Egypt are directly linked to the global gold ounce price and the US‑Egyptian pound exchange rate. (market analysis)
- [○ 1 SOURCE] The Fed’s rate‑hold gives the Central Bank of Egypt greater flexibility in managing domestic monetary policy. (analysis by Dr. Ramadan Ma’n)
- [○ 1 SOURCE] Dr. Ramadan Ma’n said the Fed’s decision would reduce pressure on the Egyptian economy and support foreign investment. (commentary by Dr. Ramadan Ma’n)
- [● 2 SOURCES] The price of 21‑karat gold in Egypt was about 5,950 EGP per gram on 31 July 2026. (price listings in Egyptian gold markets)
- [○ 1 SOURCE] 21‑carat gold price in Egypt rose 5.3% in July 2026, from 5,640 EGP to a high of 6,010 EGP per gram. (fbc80af7-b9ca-4cb7-9ad8-ae205c644e8b)
- [○ 1 SOURCE] The price gap between local gold price and a fair price averaged 1.8%–2% during July 2026. (fbc80af7-b9ca-4cb7-9ad8-ae205c644e8b)
- [○ 1 SOURCE] The USD/EGP rate remained unchanged on 1 August 2026, with the Central Bank of Egypt quoting 51.09 EGP (buy) and 51.19 EGP (sell). (189eb9e2-5abf-4877-b6da-924dc1097508)
- [○ 1 SOURCE] On 31 July 2026 the US dollar traded at 51.08–51.22 EGP per USD across major Egyptian banks. (331bc95c-4188-4590-90bd-1066c04c84b1)