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Egypt gold prices decline in May 2026
Report on the decline of gold prices in Egypt during May 2026: The price of 21-karat gold decreased from 6,950 to 6,765 Egyptian pounds per gram, a decrease of approximately 2.7%. This decline was driven by a global drop in prices and a 1.34-pound appreciation of the dollar against the Egyptian pound. Additionally, geopolitical tensions eased, prompting investors to shift towards stocks and higher-yield assets. Worldwide, gold prices also fell by $91 per ounce. Prices temporarily stabilized at the beginning of June due to trading suspensions during the weekend holiday. Market analysts expect continued volatility in the markets in the near future.
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