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المصري اليوم
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Gold prices decline on August 3
Gold prices in the Egyptian market experienced a noticeable decline at the end of trading on Monday, August 3, 2026, due to the impact of global gold price movements following the U.S. Federal Reserve's decision to keep interest rates unchanged. The price of a 21-karat gram fell by about 60 Egyptian pounds, reaching 5,880 pounds, while the gold pound decreased by approximately 480 pounds, registering at 47,040 pounds. On the international level, the price of an ounce of gold remained steady at around $4,043, with expectations of stability around $4,100 in the second half of 2026. There is also potential for the price to rise to $4,500 or even $6,000 if geopolitical or economic tensions increase. Experts forecast that local gold prices will be affected by changes in global markets and the exchange rate of the local currency against the dollar, which increases the likelihood of fluctuations in the coming period.
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