Gold Prices in Egypt Fall for Second Consecutive Week

Gold prices in Egypt declined for a second consecutive week, with subdued local pricing activity coinciding with a fall in international gold prices.

The domestic retreat reflected weakness in the Egyptian market as well as the downward movement in gold globally. Both factors weighed on local prices during the week.

The update highlighted 21-karat gold but did not provide a price per gram. It also gave no figures showing the size of the weekly decline.

The second straight weekly fall extends the market’s downward trend, although the available details do not establish how sharply prices have dropped over that period.