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Gold prices may rise if oil stabilizes
The article discussed the expectations of the head of the Gold Division at the Federation of Chambers of Commerce regarding gold prices. He indicated that their prices could rise if current pressures are alleviated, such as a decline in oil prices and the resolution of the Hormuz Strait crisis. He mentioned that local gold prices range between $4,250 and $4,350 per ounce and anticipated an increase if the supporting factors for a rise continue. He also emphasized that the primary factor behind the decline in Egypt's gold exports during the first seven months of 2026 is the relationship of supply and demand, noting that domestic demand increased this year, leading to reduced exports. Additionally, he stated that gold prices are not mainly affected by global disturbances and have remained relatively stable so far.
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