Twenty-one-karat gold, the most widely traded in the local market, recorded approximately 4,500 EGP/gram, a decrease of about 15 pounds from Wednesday's prices.
Current gold prices in Egypt:
24-karat gold: 5,142 EGP
21-karat gold: 4,500 EGP
18-karat gold: 3,857 EGP
Gold pound (8 grams of 21-karat): 36,000 EGP
The decline comes as the US central bank maintains its
monetary policy. The Federal Reserve Board announced Wednesday evening its
decision to keep the benchmark interest rate between 4.25 percent and 4.50
percent. This marks the fifth consecutive meeting since the start of 2025 that
rates have remained unchanged, despite increasing pressure from US President
Donald Trump to cut rates to stimulate the economy.
Despite the pressure, Fed Chair Jerome Powell maintained his
cautious stance on monetary policy, emphasizing that inflation still requires
prudence in making any decisions regarding monetary easing.
Global and local gold prices are influenced by several factors, including US monetary policy trends, dollar fluctuations, and domestic supply and demand levels.