Gold prices in Egypt declined on Sunday, even as investors globally continued to seek safe-haven assets amid persistent geopolitical tensions in the Middle East involving Israel, the United States and Iran.
As of 16:52 Cairo time (14:52 GMT), 24-carat gold was trading at 8,485.5 Egyptian pounds per gram, down 114.5 pounds, or 1.33 per cent, from 8,600 pounds recorded on Thursday.
Other gold grades saw similar declines:
| Metal | 15 March (EGP) | 12 March (EGP) | Change (EGP) | Change % |
| 24-carat | 8485.5 | 8600 | -114.50 | -1.33 |
| 21-carat | 7425 | 7525 | -100.00 | -1.33 |
| 18-carat | 6364.5 | 6450 | -85.50 | -1.33 |
| Gold Pound | 59400 | 60200 | -800.00 | -1.33 |
Gold prices in Egypt typically track movements in global bullion markets while also reflecting local supply and demand conditions and fluctuations in the Egyptian pound.
Internationally, gold was trading at $5,020.78 per ounce, while the exchange rate stood at 52.5785 Egyptian pounds per US dollar.
Attribution: Amwal Al Ghad English