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Egypt gold prices today update
Gold prices in Egypt declined by more than 65 Egyptian pounds today, Thursday, due to a drop in global gold prices below $4,600, with fluctuations around $40, which impacts local prices and causes them to change constantly. The 24-karat gold traded at approximately 7,417 pounds, 21-karat around 6,490 pounds, 18-karat about 5,563 pounds, and 14-karat roughly 4,327 pounds. The gold pound (24 grams) reached 51,920 pounds. After gold prices hit their highest level in three months at 6,645 pounds per gram, a correction began, leading to a price decline and breaking below 6,500 pounds, with current trading around support at 6,550 pounds. Gold-backed investment funds experienced their largest inflows in 11 months, totaling $6.4 billion, with holdings increasing by 46.7 tons of gold. This marks the seventh consecutive week of inflows, the longest streak of investment interest since the beginning of the year.
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