Egyptian dollar slides as gold prices rise across karats on June 1 2026

On Monday 1 June 2026 the Egyptian pound weakened against the US dollar in major banks. The lowest quoted rate was 52.15 EGP per dollar at National Bank of Kuwait – Egypt, while the highest was 52.39 EGP at Abu Dhabi Islamic Bank. Other banks such as the National Bank of Egypt, CIB and QNB listed rates around 52.23‑52.33 EGP.

Gold prices in Egypt showed a broad increase. The 24‑karat gram traded near 7,709 EGP (sell) and 7,686 EGP (buy); 22‑karat at about 5,067 EGP; 21‑karat around 6,745 EGP; and 18‑karat near 5,781 EGP. The ounce price hovered around 240,800 EGP. Parallel reports listed the gold gram price in euros at €124.04, reflecting global market strength.

Saudi Arabia’s gold market posted prices of 547.75 SAR per gram for 24‑karat, 502 SAR for 22‑karat, 479.25 SAR for 21‑karat, and 410.75 SAR for 18‑karat, with the ounce at 17,034.50 SAR. The movements were attributed to global factors such as dollar strength, interest‑rate expectations and geopolitical tensions.