18-Carat Gold Priced at EGP 5,263 per Gram in Egypt

The price of 18-carat gold stood at EGP 5,263 per gram in Egypt, according to the latest available update.

The local price comes as global gold markets remain influenced by the continued strength of the US dollar and rising US Treasury yields.

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

Higher Treasury yields can also put pressure on gold, which pays no interest, by making interest-bearing assets more attractive to investors. These factors remain important to the international backdrop for Egyptian gold prices.