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Gold prices in Egypt on June 26
The gold market in Egypt experienced relative stability in prices yesterday, with the price of the gold pound remaining at 45,600 pounds after a slight previous increase, as prices of various denominations remained steady without significant change. However, during June, gold prices saw a sharp decline of 16%, equivalent to a loss of over 1,100 pounds per gram. This drop was driven by global pressures, a decline in international gold prices, and a weakening of the dollar against the Egyptian pound. Market experts expect that the future of gold will depend on the performance of the international ounce, U.S. interest rate policies, and the stability of the local exchange rate.
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