Egypt Gold Prices Drop on September 16

Gold prices in Egypt experienced a slight decline at the start of trading on Wednesday, September 16, 2026, compared to yesterday's prices. This comes amid cautious sentiment in the global market as investors await the U.S. Federal Reserve's decision regarding interest rate hikes. The price of a gram of 24-karat gold was approximately 7,154 Egyptian pounds for selling and 7,097 pounds for buying. For 18-karat gold, prices were around 5,366 pounds for selling and 5,323 pounds for buying. The popular 21-karat gold traded at about 6,260 pounds for selling and 6,210 pounds for buying. The 24-karat gold coin (the gold pound) was priced at approximately 50,080 pounds for selling and 49,680 pounds for buying. Globally, gold prices decreased by 0.1%, reaching $4,288.48 per ounce, amid a 92.4% expectation that the Federal Reserve will likely raise interest rates by 25 basis points today, which increases the opportunity cost of holding the precious metal.

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