Egypt's Gold Market Holds Steady as Global Prices Hover Near One-Year Lows
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Egyptian gold sales have dropped more than 50% compared to the previous year, attributed to price volatility and the end of installment plans. Egyptian pound weakened from 50 to 56 EGP per dollar, offsetting the global gold price drop in local markets. Gold in Egypt has risen eightfold since 2020 and 3.5 times vs. the U.S. dollar over 15 years. A rebound is projected for the first quarter of 2027 if tensions ease.
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