18-Carat Gold Stands at EGP 5,379 per Gram in Egypt

The price of 18-carat gold in Egypt stood at EGP 5,379 per gram, as global gold markets faced pressure from a strong US dollar and rising Treasury yields.

Continued dollar strength can weigh on demand for gold by making the dollar-priced metal more expensive for buyers using other currencies.

Higher US Treasury yields also increase the appeal of interest-bearing assets compared with gold, which generates no income.

Together, these factors can curb demand for the precious metal despite its role as a safe-haven asset. The reported Egyptian price provides a snapshot of the local market, with no comparison price supplied to indicate the direction of its latest move.