Gold Prices Today, Thursday, July 17, 2026
Gold prices fell amid escalating tensions in the Middle East and anticipation of U.S. interest rate decisions
Gold prices fell during trading on Thursday, approaching the $4,020-per-ounce level before stabilizing near $4,030 amid ongoing geopolitical tensions in the Middle East and renewed concerns about rising inflation.
Pressure on gold came as confrontations between the United States and Iran escalated and tensions in the Strait of Hormuz persisted, which supported oil prices and raised concerns about rising energy costs and their impact on global inflation.
Rising oil prices increase the likelihood that U.S. monetary policy will remain tight for a longer period, which reduces gold’s appeal as a non-yielding asset. Market expectations currently point to a roughly 51% probability of an interest rate hike at the Federal Reserve’s September meeting, down from 67% last week.
Data released this week showed a slowdown in both the Consumer Price Index (CPI) and the Producer Price Index (PPI) in the United States, which temporarily eased inflationary pressures and supported gold following the release of the data.
Nevertheless, investors believe that continued rises in oil prices could reignite inflationary pressures in the coming period, while any progress in de-escalation efforts or the resumption of peace talks could help improve the outlook for gold prices.
Gold Prices in Egypt
Gold prices in Egypt fell on Thursday, with the price of 21-karat gold—the most widely traded in Egypt—standing at 5,825 pounds.
The price of 24-karat gold is trading at 6,657 pounds, while 18-karat gold is trading at 4,993 pounds per gram.
On the other hand, the price of the gold dollar rose today to 51.20 pounds, while the dollar’s price at official banks in Egypt fell to 50.60 pounds.
The dollar’s price in the parallel market has also declined and is now trading at 50.84 pounds.
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