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Egypt Gold Prices Tuesday Evening
Gold prices in Egypt increased at the start of this Tuesday evening's trading session on August 4, 2026. The rise was supported by improved local demand and a decline in the US dollar exchange rate against the Egyptian pound to around 50.30 pounds. Meanwhile, global gold markets continue to show signs of hesitation. The price of 21-karat gold, the most traded in the local market, reached 5,870 pounds per gram, up from 5,845 pounds at the close of yesterday’s trading, but still below the resistance level of 5,900 pounds. Technical analyses indicate that gold prices are moving below the 5,900-pound level, with a potential support base that could enable breaking above this threshold amid market fluctuations. This reflects a decrease in demand for the US currency due to reduced geopolitical tensions, which limited gold's upward movement. Additionally, local demand has improved thanks to lower prices compared to record levels and the return of expatriate Egyptians, activities that contributed to market revitalization during 2026.
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