Egyptian Gold Prices Monitor Monday

Gold prices in Egypt today show relatively stable levels at the start of trading. The price of 21-karat gold, the most popular among Egyptians, is currently 6,330 Egyptian pounds for selling and 6,270 pounds for buying. Meanwhile, the price of 24-karat gold is approximately 7,234 pounds for selling and 7,166 pounds for buying per gram. Globally, gold prices have decreased by 0.8% to reach their lowest point in two weeks at $4,417.04 per ounce, amid expectations of a Federal Reserve interest rate hike and increased tensions in the Middle East, which are fueling concerns over inflation. This situation comes at a time when gold is seen as a hedge against inflation, despite its declining attractiveness in an environment of continuous interest rate rises.

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