Gold prices in Egypt surged on Wednesday as investors sought safe-haven assets amid rising geopolitical tensions in the Middle East involving Israel, the United States, and Iran.
By 16:44 Cairo time (14:44 GMT), 24-carat gold was trading at 8,274.25 Egyptian pounds per gram, up 62.75 pounds, or 0.76 per cent, from Tuesday’s 8,211.50 pounds. Other popular gold grades saw similar gains:
| Metal | 1 April (EGP) |
31 March (EGP) | Change (EGP) | Change % |
| 24-carat | 8274.25 | 8211.5 | 62.75 | 0.76 |
| 21-carat | 7240 | 7185 | 55.00 | 0.77 |
| 18-carat | 6205.75 | 6158.5 | 47.25 | 0.77 |
| Gold Pound | 57920 | 57480 | 440.00 | 0.77 |
Gold prices in Egypt generally track global bullion movements while also reflecting local supply-demand dynamics and fluctuations in the Egyptian pound. On international markets, gold was trading at $4,754.80 per ounce, with the Egyptian pound quoted at 53.6719 per US dollar.
Attribution: Amwal Al Ghad English