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Gold pound in Egypt steady at 45,600
The price of the gold pound in Egypt decreased in June, losing about 16% of its value, which is equivalent to more than 1,100 Egyptian pounds per gram. It fell to its lowest level since last December, at 5,620 pounds per gram. The decline was driven by a sharp drop in global gold prices and a decrease in the US dollar's exchange rate against the Egyptian pound, which recently helped stabilize prices around 45,600 pounds for the pound, with the prices of different gold purities remaining steady. Analysts expect that the future movement of the gold pound's price will be influenced by the performance of the global gold market and the results of upcoming US economic data.
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