Wednesday 11/March/2026 – 12:18 PM
Nadi Najib, a member, said Gold DivisionThe local gold market is witnessing a state of stagnation during the current period, with a clear decline in buying and selling activity within stores.
Gold Division Member: Expectations of rising prices due to global tensions
Naguib explained in a statement to Cairo 24 that this decline prompted some traders and companies to reduce production rates in light of the decline in demand, noting that global events and current tensions may push gold prices to rise further during the coming period.
Gold prices witnessed several successive increases during the past two weeks, coinciding with the American-Israeli war on Iran.
Gold prices today:
- The price of a gram of 24 karat gold was about 8,554 pounds.
- The price of a gram of 21 carat gold reached approximately 7,485 pounds.
- The price of a gram of 18 karat gold reached 6415 pounds.
- The price of the gold pound recorded 59,880 pounds, without taking into account the workmanship, stamp duty, and tax.
Gold prices rose on the global stock market last Tuesday, as an ounce rose by about $41 during today’s trading to record about $5,192, amid a state of sharp fluctuations witnessed by global markets in light of geopolitical tensions and monetary policy changes.
The markets’ eyes are currently turning towards the US Federal Reserve meeting scheduled to be held on March 18, which will determine the course of interest rates during the coming period, amid widespread expectations that interest rates will be kept unchanged during this meeting.
