Gold posts biggest weekly loss since June as yields rise

Gold prices in Egypt rose slightly on Saturday even as global markets were closed. The metal posted its largest weekly decline since early June amid higher US Treasury yields.

Spot gold ended the week at about $4,017 per ounce, down $103 or 2.5 percent. Rising US Treasury yields and a stronger dollar outweighed support from geopolitical tensions.

In Egypt, 21-karat gold increased by EGP 10 to EGP 5,810 per gram. The 24-karat price reached EGP 6,640 per gram while 18-karat gold traded at EGP 4,980 per gram.

Walid Farouk of Marsad Al Dahab for Economic Studies noted gradual recovery in jewellery demand. Manufacturers have added lower-weight products to attract buyers. The World Gold Council expects prices to trade in a narrow range around current levels for the rest of 2026.

مقالات ذات صلة

Gold prices in Egypt dropped sharply on Tuesday to their lowest level this year amid falling global markets and a stable Egyptian pound.

من إعداد الذكاء الاصطناعي

Gold prices in Egypt fell 2.7 percent in May 2026 as the Egyptian pound strengthened and global markets weakened.

Egypt is witnessing a surge in digital gold investment driven largely by younger investors, according to Saied Embaby, CEO of iSagha.

من إعداد الذكاء الاصطناعي

The Financial Regulatory Authority released its quarterly report showing growth in Egypt's precious metals investment funds through June 2026.

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