Gold prices in Egypt during the first half of 2026 witnessed strong fluctuations.
This is after recording historic levels before entering a wave of decline by the end of June, affected by global and local economic factors.
The 21-carat gold gram ended June trading at 5660 pounds, compared to 5840 pounds at the beginning of the year.
to record a decline of 3.08%. The yellow metal had reached an all-time high of 7475 pounds by the end of February.
A report issued by the “iSagha” platform explained that at the beginning of the year, gold benefited from the decline of the dollar globally.
In addition to expectations of a US interest rate cut, which contributed to a significant increase in prices.
But the scene later changed. Gold has entered a strong correction wave as US monetary policy tightens and the dollar rises.
In addition, the yields of Treasury bonds increased, which put pressure on prices globally and locally.
Globally, the ounce rose to around $5,589 before falling to around $4,019 by the end of June.
It lost about 7% of its value during the first half of the year.
Saeed Embabi, CEO of iSagha, noted that gold has become more tied to U.S. monetary policy decisions, than to the impact of geopolitical tensions.
He added that the dollar’s strength has limited the precious metal’s gains despite regional developments.
In the Egyptian market, the improvement in the performance of the pound against the dollar contributed to easing the sharpness of the decline in prices compared to the decline witnessed by the global markets.
The report also showed the fluctuation of the gap between the local price and the fair price of gold during the past period.
Before stabilizing by the end of June, indicating the return of the balance between supply and demand within the market.
Observers said that gold prices in Egypt will remain linked in the coming months to the dollar’s movements and the decisions of the US Federal Reserve.
In addition to the developments of the global economy and the levels of demand for the precious metal.
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