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Gold price drops 40 pounds on August 26
On Wednesday, August 26, 2026, the prices of gold in the Egyptian market experienced a decline of approximately 40 Egyptian pounds. The price of 21-karat gold reached about 6,515 pounds, influenced by a drop in the global ounce price below $4,635, due to movements in the global US dollar index. Despite this decrease, the short-term outlook remains positive, as the ounce continues to trade above $4,600. The level of 6,500 pounds per gram of 21-karat gold is considered an important technical point; maintaining trading above this level could support a return to upward movement, while breaking below it might lead to a temporary correction. The market is closely monitoring global trading activity, dollar trends, and US bond yields to determine the future direction of this precious metal.
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