Tuesday 24/March/2026 – 09:30 AM
I witnessed Gold prices in Egypt A state of stability during the beginning of trading this morning, Tuesday, March 24, 2026, after the slight increase recorded at the end of trading on Monday, coinciding with the stability of the global price of the precious metal.
The price of a gram of 21 carat gold, the most widely traded in the Egyptian market, recorded about 6,900 pounds, with no significant change compared to the last update, which reflects a state of relative calm in the buying and selling movement.
Gold prices in Egypt were as follows:
- 24 karat: 7885 pounds per gram
- Carat 21: 6900 pounds per gram
- 18 karat: 5914 pounds per gram
- Gold pound: 55,200 pounds
At the global level, ounce prices stabilized at $4,421, with investors awaiting any economic developments or decisions that might affect the movement of the yellow metal during the coming period.
This stability is attributed to a relative balance between supply and demand factors, in addition to a calmness in global market movements, which was directly reflected in the local market.
At the global level, gold has been under strong pressure recently, as an ounce fell to the level of $4,100 during one session, recording a daily decline of more than 5%, which is one of the largest declines for the yellow metal in recent years.
This came as a result of escalating pressures associated with rising oil prices, in addition to continuing fears of inflation and tightening monetary policies. The rise in energy prices led to an increase in inflation rates globally, which prompted markets to adjust their expectations regarding a reduction in US interest rates, which boosted real yields and the strength of the dollar, and increased pressure on gold.
Liquidation operations, profit-taking in futures contracts, and exits from gold-backed ETFs also contributed to accelerating the pace of decline, especially after the record highs that the metal witnessed over the past year.
