Gold Prices Retreat in Domestic Market
Gold prices in Egypt recorded a notable decline at the close of trading on Thursday, April 23, 2026. The shift comes as regional instability heightens, particularly with renewed threats of military action surrounding the Iran war. Investors and local traders are closely monitoring these geopolitical developments, which continue to influence market volatility.
The gold pound saw a sharp correction, dropping by 440 EGP on a weekly basis to settle at approximately 55,840 EGP. Meanwhile, the price of 21-karat gold, the most popular choice among Egyptian consumers, fell to 6,980 EGP per gram by the end of the day's trading session.
Market data reflects the current downward pressure on precious metals, with 24-karat gold reaching 7,977 EGP for purchase, while 18-karat gold was recorded at 5,980 EGP. Globally, the gold ounce stood at 4,695 USD, reflecting the broader impact of the Iran USA tensions on global financial assets and safe-haven commodities.
For the latest developments on this ongoing regional conflict and its impact on global markets, you can follow our dedicated coverage here: Iran Us War Live updates
