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Gold Jewelry Loses 105E£ as Ounce Drops
Gold prices in Egypt experienced a notable decline during the week from September 28 to October 3, 2026. The price of 21-karat gold decreased by 105 Egyptian pounds, approximately 1.68%, dropping from about 6,240 pounds to 6,135 pounds per gram. This decline occurred within a broader global trend that began before the week, driven by the tightening of U.S. monetary policy, rising Treasury bond yields, and a strong dollar, all of which exerted downward pressure on gold prices despite signs of a recovery in the U.S. labor market. Market expectations remain primarily tied to the upcoming U.S. jobs report, with the impact of economic data on the metal’s price continuing to vary. The gap between local and international prices has been fluctuating, while the dollar remained at high levels, partially supporting the local gold prices.
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