Egypt Gold Prices Drop on August 2

The price of gold in Egypt slightly declined on Sunday, August 2, 2026, coinciding with a decrease in the metal's price worldwide. The price of 24-karat gold reached approximately 6,782.7 Egyptian pounds per ounce for sale, while the price of 21-karat gold, the most favored in Egypt, was 5,935 pounds per gram for sale. Despite today's price decline, gold prices ended July with the largest monthly gain since February, supported by reduced expectations of US interest rate hikes and slowing inflation, which led to a 1.1% increase in the precious metal in July—the first monthly rise in five months.

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