Egypt dollar and gold fall amid regional calm

Egyptian markets have experienced a decline in both the US dollar and gold prices. The price of a gram of 21-karat gold has dropped below 6,000 Egyptian pounds for the first time since the start of the Iranian conflict. This decline is driven by the return of foreign investment flows and an improved investor appetite for local debt instruments, following stabilization of the geopolitical situation in the region. The exchange rate is influenced by factors such as the revival of foreign investments, remittances from Egyptians abroad, and the summer tourism season, with expectations that the dollar could return to pre-crisis levels around 48 pounds if these factors persist. Gold prices have also been affected by the dollar's decline, amid ongoing regional tensions and U.S. monetary policies, causing the precious metal's trajectory to be characterized by fluctuations and sensitivity to Federal Reserve policies.

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