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Gold prices fall globally on August 31
The article explains that gold prices in Egypt stabilized today, Monday, August 31, 2026, after experiencing a correction wave during the last week of August, despite achieving gains since the beginning of the month. The price of 21-karat gold per gram is about 6,330 Egyptian pounds, while prices for other denominations saw relatively modest increases. Globally, gold prices rose by 10.1% throughout August, with a noticeable decline in the final week due to market correction and the impact of the drop in the ounce price to below $4,700. This was influenced by the rise in the US dollar exchange rate and a decrease in buying demand amid market expectations of gold price movements based on the dollar's trends and future interest rate changes.
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