Gold prices in Egypt on Tuesday:
24-karat: EGP 5,611 per gram
21-karat: EGP 4,910 per gram
18-karat: EGP 4,208 per gram
Gold pound: EGP 39,280
21-karat gold, the most traded in Egypt, remained at its
highest level since April. Prices showed minimal change compared to Monday’s
trading.
The stability follows yesterday’s strong surge as investors
awaited the US Federal Reserve’s September meeting on interest rates. Standard
Chartered Bank projected a one-time 50-basis-point cut, instead of 25 points.
This projection came after US employment data showed slower job growth and an
unemployment rate of 4.3%, the highest in nearly four years.
Experts say local gold prices are likely to fluctuate
further in the coming period. These movements will depend on global market
trends, US dollar fluctuations, and rising demand for gold coins and bullion
following recent increases.