[XAU/EGP] Gold Prices in Egypt Stabilize After Yesterday’s Decline, Sunday September 17, 2023
Gold prices in Egypt stabilized on Sunday, September 17, 2023, following a decline of 20 Egyptian pounds on the previous day.
Gold
The price of 21-karat gold, the most popular variety, remained unchanged at 2,170 Egyptian pounds for sale and 2,180 Egyptian pounds for purchase.
The price of 24-karat gold, the highest-value variety, also remained unchanged at 2,480 Egyptian pounds for sale and 2,491 Egyptian pounds for purchase.
| Purity | Buy price (EGP) | Sell price (EGP) |
|---|---|---|
| 21K | 2,170 | 2,180 |
| 24K | 2,480 | 2,491 |
| 18K | 1,860 | 1,869 |
| 14K | 1,447 | 1453 |
| Egyptian pound gold | 17,400 | 17,440 |
The stabilization of gold prices in Egypt on Sunday is likely due to a number of factors, including the recent decline in the price of oil, which has led to a decline in inflation expectations. Additionally, the Egyptian pound has been strengthening against the US dollar in recent months, which has made gold more affordable for Egyptian consumers.
It remains to be seen whether gold prices will continue to stabilize in the coming days or weeks. However, the current factors suggest that gold prices are unlikely to experience a significant increase in the near future.
