Gold Prices Slip Globally, Falling Below $4,200 per Ounce

Spot gold fell 0.5% on Friday to $4,191.17 per ounce, putting the metal on track for a 3.2% weekly loss and its lowest level in more than six months. The decline was driven by concerns over inflation and a 60% market probability of a Federal Reserve rate hike in December, as well as heightened geopolitical attention after U.S. President Donald Trump cancelled planned strikes on Iran and hinted at a peace deal.

In Egypt, the local market reflected the global dip. The most traded 21‑carat gold price dropped to about 6,185 Egyptian pounds per gram for buying and 6,135 pounds for selling, while 24‑carat gold hovered around 7,070 pounds per gram. Prices for other carats also slipped, underscoring investor caution amid worldwide economic uncertainty.