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Gold prices in Egypt August 1 21K reaches 5930 pounds
Gold prices in Egypt remained stable today, Saturday, August 1, 2026, after experiencing a decline yesterday. Despite ongoing pressures from the globally declining gold prices, the US dollar's exchange rate against the Egyptian pound remained high above 51 pounds, limiting the local price decrease. The price of 21-karat gold reached approximately 5,930 Egyptian pounds, with market movements expected to stay within the range of 5,900 to 5,950 pounds per gram. Prices are primarily influenced by fluctuations in global gold prices and the exchange rate of the dollar. Although prices fell internationally, the rise of the dollar locally helped stabilize prices within Egypt, marking the first monthly increase in gold prices in four months. It is anticipated that prices will continue to move sideways until the future of US economic data and interest rate decisions become clearer.
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