Egypt's gold reserves dipped slightly to $13.586 billion in June, down from $13.679 billion in May, according to data released by the Central Bank of Egypt (CBE) on Monday. The 0.7 per cent monthly decline comes despite a broader rise in overall net foreign reserves, which climbed to $48.700 billion, up from $48.526 billion in May, supported by a 0.77 per cent increase in in foreign currency holdings, which reached $35.076 billion. While gold remains a key component of Egypt's reserve assets, the month-on-month dip reflects normal fluctuations in global prices and valuation adjustments. The country's reserve position has been bolstered in recent months by multilateral support, rising remittances, and recovering tourism inflows. Attribution: Amwal Al Ghad English Download
