Gold falls to 6,130 pounds
Gold prices in Egypt experienced a decline during Friday evening trading on October 2, 2026, due to continued pressures from global markets. Internationally, precious metal prices fell as the ounce dropped to approximately $4,138.52. Locally, price movements were strongly influenced by the US dollar’s strength and US bond yields. The price of 21-karat gold reached around 6,130 Egyptian pounds, down 130 pounds from previous levels, while the price of a gold pound was approximately 49,925 pounds. Price fluctuations continue to depend on the ounce price, the dollar exchange rate, and domestic economic developments. Additionally, data showed that gold prices in Egypt decreased by about 3% in September, with the global gold ounce falling approximately 6.7%. Meanwhile, interest rates in Egypt remained unchanged, reflecting the impact of both global and local factors on the Egyptian gold market.
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