Egypt’s public prosecution hands over seized gold worth $34m to central bank
Egypt’s public prosecution has handed over 265 kilograms of seized gold bullion, valued at nearly EGP 1.65bn ($34 million), to the country’s central bank in a move praised by the prime minister as a model for efficient resource management. Speaking
Gold in Egypt posts 2.3% weekly gain amid global volatility
Chairperson of the Gold and Precious Metals Division at the Federation of Egyptian Industries, Ehab Wassef, highlighted sharp fluctuations in the local gold market throughout the past week. He explained that although gold prices recorded notable gains in recent days,
Gold prices fall 3.6% in one week amid market correction
Gold prices in Egypt fell by 3.6% over the past week, marking a decline of EGP 200 per gram, as the market undergoes what experts describe as a “natural correction” following record highs in October. Ehab Wassef, Chairperson of the
Gold prices hold steady in Egypt despite stronger EGP: Metals Division
Domestic gold prices in Egypt extended their upward trajectory for the eighth consecutive week, buoyed by a historic surge in global gold prices, which surpassed the $4,000 per ounce mark for the first time, according to Ehab Wassef, Chairperson of
Gold demand drops during Eid al-Fitr, defying holiday trends: FEI official
Ehab Wassef, Head of the Gold and Precious Metals Division at the Federation of Egyptian Industries (FEI), reported an unexpected decline in gold demand during the Eid al-Fitr holiday—contrasting with previous years, when demand typically spikes due to increased purchases
Gold markets shift to parallel dollar rate, creating EGP 60 gap between local, global prices: iSagha
Gold prices in Egypt’s local market remained stable during Saturday’s trading session, coinciding with the weekly closure of global exchanges. This steadiness followed a volatile week that saw global gold prices swing sharply as investors liquidated holdings to offset stock
Gold prices surge 5.9% since early March amid market uncertainty
Global gold prices continued their upward trajectory last week, marking a third consecutive weekly gain despite a pullback in the final two trading sessions after reaching an all-time high. Over the past week, gold prices rose by 1.3%, peaking at
Gold prices surge 1.8% over past week: Gold Bullion
Gold prices declined on Friday, yet the precious metal achieved gains over the past week due to safe-haven inflows and a US jobs report revealing lower-than-expected job growth in February. This suggests that the Federal Reserve may be on track
Gold hits record highs amid market uncertainty, CBE purchases
Gold prices surged in local markets on Saturday, coinciding with the weekend closure of global stock exchanges. This follows an eighth consecutive week of gains, with gold rising by 1.8% amid heightened global uncertainty and strong Central Bank of Egypt’s
Gold declines as high interest rates dampen appeal
Global gold prices fell for the second consecutive day after reaching a record high, pressured by rising US Treasury yields and Federal Reserve Chairperson Jerome Powell’s hawkish stance on interest rates. Investors now await key US inflation data for further