Egypt’s 18-Carat Gold Price Stands at EGP 5,263 per Gram

The price of 18-carat gold in Egypt stood at EGP 5,263 per gram, as global bullion markets remained under pressure from a strong US dollar and rising Treasury yields.

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

Higher US Treasury yields also reduce the appeal of gold, which pays no interest. Interest-bearing assets can become more attractive to investors when yields rise.

Together, these factors are dampening demand for gold as a safe-haven asset, providing a key backdrop to movements in the global market.