Gold prices in Egypt witnessed a decline during trading this morning, Saturday, October 24, 2026, affected by the losses that the ounce suffered in global markets, which fell below the $4,000 barrier for the first time since mid-July. This decline comes amid escalating inflationary fears and renewed expectations of a tighter US monetary policy, which was directly reflected in the price movement in the local market.
In details, the price of a gram of 21 carat gold, the most common, was about 6,285 pounds for sale and 6,255 pounds for consumer purchase, recording a decline of 15 pounds compared to the level of 6,300 pounds recorded in the previous update. This caliber is still facing selling pressures that limit its chances of recovery in the near term, in light of the close connection between the local market movement, international prices, and the exchange rate of the pound against the dollar.
Regarding the rest of the bullets during morning trading, the price of a gram of 24 karat gold reached about 7,185 pounds for sale and 7,150 pounds for purchase, while a gram of 18 karat gold recorded about 5,385 pounds for sale and 5,360 pounds for purchase. In turn, the price of the gold pound – weighing 8 grams of 21 carat – fell to 50,280 pounds for sale and 50,040 pounds for purchase, compared to about 50,400 pounds in the previous update, noting that these prices do not include the value of workmanship and stamp duty, which vary from one company to another and from one merchant to another.
Globally, gold prices came under strong pressure at the end of trading yesterday, Friday, recording their lowest levels in about three months, affected by the rise in oil prices and fears of supply disruptions in the Middle East, which reinforced inflationary fears and expectations that US interest rates would remain high for a longer period. An ounce in the spot market recorded $3,998.35, after touching the level of $3,975.23, while futures contracts for December delivery closed at $4,007.90 per ounce, a decrease of 1.3%.
With this performance, the yellow metal suffered sharp weekly losses amounting to about 4%, recording its largest weekly decline since last June. The markets remain likely for more volatility during the coming week, with investors anticipating the ability of the ounce to recover the $4,000 level to support short-term performance, or the continuation of trading below, which may push to test the $3,975 level again, awaiting further clarity on the path of US monetary policy.
