Gold prices dropped 5 pounds Friday on the Egyptian market following the decline of gold prices globally.

Member of the Gold Division at the Federation of Egyptian Chambers of Commerce (FEDCOC) Ehab Wassef said the current decline in Egypt's gold prices does not match with the decline in the prices of the yellow metal globally.

The prices of 18, 21 and 24-k gold recorded 471.40, 550 and 628.55 pounds respectively in Egypt.