The yellow metal recorded slight movements during the start of local trading, amid anticipation of the future developments in global gold prices, especially with the ongoing geopolitical tensions in the Middle East, which are pushing investors to turn to gold as a safe haven.
Gold prices in Egypt on Monday
24-karat gold: EGP 5,509/gram
21-karat gold: EGP 4,820/gram
18-karat gold price: EGP 4,131/gram
Gold pound price: EGP 38,560
Factors affecting today's gold price
Market experts' forecasts indicate that the price of gold in Egypt may witness further changes throughout the day, due to several factors, including:
· The movement of the dollar against the Egyptian pound
· Gold price developments on the global stock exchange
·
Supply and demand in the
local market
· Global geopolitical developments, especially in the Middle East
It is worth noting that gold prices in Egypt are updated in real-time throughout the day and may fluctuate by a margin of 15 to 30 Egyptian pounds per gram. The manufacturing cost also varies from one jeweler to another and is not included in the prices announced above.
Notes for Consumers
When purchasing gold from local markets, keep in mind that official prices do not include manufacturing fees, taxes, and stamp duty, which are added to the final price per gram. It is recommended to constantly monitor market updates to determine the best time to buy or sell.