Egyptian gold prices rise by 5 pounds
Gold prices in Egypt saw a limited increase in mid-September 2026, driven by a 0.6% decline in the ounce due to market fluctuations between safe-haven demand, a rising dollar, and U.S. Treasury yields. The price of 21-karat gold per gram rose by approximately 5 Egyptian pounds to reach 6,325 pounds, while the ounce fell to $4,430. The market is focused on interest rate fluctuations and U.S. economic outlooks, with central banks continuing to demand gold despite pressures from rising yields and geopolitical tensions. The market is expected to remain volatile in the coming period, with rising prospects of interest rate hikes and expectations of gold reaching $5,000 per ounce by mid-2027, according to UBS bank forecasts.
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