Gold prices plummeted globally on Thursday, March 19, 2026, falling to below $4,700 per ounce despite escalating geopolitical tensions and volatile stock markets, according to reports from Egypt’s Al-Masry Al-Youm newspaper.
The price of gold experienced a sharp decline, with the global spot price reaching $4,691.70 per ounce, a decrease of 4.18% and silver falling to $70.68, down 8.91% – its lowest level in nearly a month. This downturn occurred amidst the intensifying conflict between the United States and Iran and broader market instability, conditions that typically drive investors towards safe-haven assets like gold.
Economist Hossam Adawy, speaking to Egypt’s Sada El Balad television channel, attributed the unexpected price drop to a confluence of factors including rising inflation, increasing oil prices, and the strength of the U.S. Dollar impacting traditional demand for safe-haven investments. He similarly noted that expectations of interest rate cuts by the U.S. Federal Reserve are diminishing, removing a key source of support for precious metals.
In Egypt, gold prices at the close of trading on Thursday, March 19, 2026, were as follows, excluding taxes and manufacturing costs, according to the Gold and Jewelry Chamber: 24-karat gold was priced at 8,228 Egyptian pounds per gram; 21-karat gold, the most traded, was at 7,200 Egyptian pounds per gram; and 18-karat gold was at 6,171 Egyptian pounds per gram. A gold pound (approximately 8 grams) was trading at 57,600 Egyptian pounds.
An Instagram post from Al-Masry Al-Youm on January 30, 2026, featured advice from a gold merchant in Alexandria, encouraging investment in gold, describing it as both “ornament and treasure.”
A recent YouTube analysis, published in February 2026, highlighted a shift in gold’s behavior, suggesting a departure from historical trends. The analysis indicated that gold was beginning to demonstrate greater independence from the U.S. Dollar, as central banks increased their gold reserves to unprecedented levels, creating sustained buying pressure.
According to a report from Egyedu.com, the global economic landscape is influencing gold prices. The report notes that in 2026, central banks have been increasing their gold holdings, creating upward pressure on prices. The report also states that movements in the global gold market directly reflect investor concerns or optimism regarding global financial stability.
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