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Egypt 21K gold prices today
The Egyptian gold market experienced a noticeable decline last week, due to a sharp drop in global gold prices, despite the stability of the US dollar's exchange rate against the Egyptian pound. The price of 21-karat gold fell by 4.8%, reaching 6,450 Egyptian pounds per gram, down from 6,775 pounds at the beginning of the week. An increase in net foreign assets and improved foreign exchange indicators in Egypt contributed to currency market stability, despite pressures from falling global gold prices and the impact of US employment data. Despite the decline, actual demand for gold remains active, with support levels expected to stay above $4,050 per ounce, amid ongoing economic and geopolitical tensions worldwide.
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