Gold Prices in Egypt Remain Steady Despite Global Drop

Gold prices in Egypt remained stable on Friday, ending the day at the same level as midday, according to Naguib Nady, former Secretary-General of the Gold Division at the Cairo Chamber of Commerce. The price of a gram of gold had dropped by 15 Egyptian pounds earlier in the day. Gold prices remained stable for all karats: 14 karat at 2300 Egyptian pounds per gram, 18 karat at 2957 Egyptian pounds per gram, 21 karat at 3450 Egyptian pounds per gram, and 24 karat at 3942 Egyptian pounds per gram. The price of a gold pound also remained stable at 27,600 Egyptian pounds. However, prices can vary from one dealer to another. This price reflects the value of gold in Egyptian pounds. Globally, the price of gold fell to approximately $2504 per ounce (31.1 grams of 24 karat gold), representing a decrease of 0.70% during Friday’s trading, according to Bloomberg data.