Egypt Gold Prices Hold Steady at 7,015 Pounds

The 24-karat gram was quoted at 6,960 pounds for buying and 7,015 pounds for selling, while 21-karat gold stood at 6,140 pounds for selling and 6,090 pounds for buying. Eighteen-karat gold was priced at 5,265 pounds for selling, and the gold pound was listed at 49,120 pounds.

Internationally, spot gold was around $4,081.63 an ounce, underscoring how elevated global prices continue to support local sticker shock even when domestic quotes pause. The dollar used in gold pricing in Egypt was about 53.47 pounds, versus 53.07 pounds in banks, keeping imported bullion costs high and limiting room for a sharp pullback in local prices.

For investors, the flat session suggests the market is consolidating after recent swings rather than starting a clear correction. Conventional technical indicators on gold-tracking funds also show mixed momentum: GLD closed at 382.01, below its 50-day moving average of 397.18 and its 200-day average of 414.98, while RSI readings recovered to 54.5, pointing to a market that is stabilizing but not yet back in a strong uptrend. GDX, the gold miners ETF, ended at 87.71, also below its 50-day average of 93.43, reflecting lingering caution among equity investors.

The broader backdrop remains supportive for bullion: the 10-year U.S. Treasury yield eased to 5.1% from 5.19% a day earlier, while West Texas Intermediate crude was forecast at $102.527 a barrel, both of which keep inflation and policy uncertainty in focus. Adalytica’s gold fear-and-greed gauge showed sentiment at 75, or greed, even as awareness remained in extreme fear territory, a sign of a market that is still heavily watched and prone to sharp swings.

The near-term catalyst is whether global gold can hold above current levels without fresh dollar strength or a renewed rise in yields. If it does, Egyptian retail prices may stay elevated even if Thursday’s opening quote looks calm.