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Gold retreats from a three-week high as a strengthening dollar weighs on precious metals
Gold prices retreated from a three-week peak on Tuesday, pressured by a surging US dollar despite lingering uncertainty over US trade tariffs and ongoing geopolitical tensions. Market performanceSpot gold dropped 1.5 percent to US$5,150.38 per ounce, while US gold futures for April delivery fell 1.1 percent to $5,170.70. The decline coincided with a rise in the greenback, making gold more expensive for holders of other currencies. The downward trend extended across the precious metals sector:Silver slumped 3.1 percent to $85.50. Abdel-Hakim noted that any movement in the global price of gold, even a $10 increase per ounce, is directly reflected in prices in the Egyptian market.
Source: Egypt Independent February 24, 2026 10:58 UTC
