Gold Stater shows charts of gold price movement for every karat. This guide explains how to read a price chart practically, even with no technical-analysis background.
The line chart: the basics
A simple line chart connects successive gold price points over time. The horizontal axis is time (days, weeks, months) and the vertical axis is the price in pounds per gram. A rising line means a rising price; a falling line means a falling price.
Choosing the right time range
When you look at the gold price, pick a range that suits your decision: one week (1W) for short-term timing, one month (1M) for the short trend, three months (3M) for the medium trend (important for savings decisions), one year (1Y) for the long trend, and All for a panoramic view. On the archive page you see all ranges for all karats.
The trend: the most important thing
The trend is the general direction of price over a period. Three types: an uptrend (higher highs and higher lows, price generally rising), a downtrend (lower highs and lower lows), and a sideways trend (price moving horizontally between an upper and lower level). Identifying the trend before deciding protects you from buying into a downtrend or selling into an uptrend.
Support and resistance
Support is a price level where falls usually stop; the more often price bounces off a level, the stronger it is as support. Resistance is a level where rises usually stop, the same logic in reverse. For example, if 21K bounced off 3,000 EGP three times last month, 3,000 is strong support, and buying near support is usually lower risk.
The moving average
A moving average is the average price over a set number of days, computed daily. A 30-day average is the mean of the last 30 daily prices. It gives a smoother line than the raw chart and reveals the trend clearly: when price is above the 30-day average the trend is up, below it the trend is down.
How do you read a sudden jump?
A sudden jump in the gold price has three possible causes: a jump in the global ounce (check London; if it jumped there, the local jump is normal), a jump in the dollar (check the pound rate; any drop lifts gold locally at once), or local pressure (if neither moved, the jump is local demand or premium).
The charts in Gold Stater
The page for each karat has a line chart of the gram price over the last year with range buttons. The ounce page shows two overlaid lines: local versus converted global. The archive page shows all karats on one chart.
Common misreadings
- "Price rose yesterday, so it will rise tomorrow": daily movement is largely random; the trend is read over at least a week.
- "Price hit an all-time high, so it will fall": prices can break highs and keep rising for months; a high is not an automatic sell signal.
- "Gold always rises": gold has multi-year down periods (2013 to 2018, for example); a long-term rise does not mean no swings.
A practical example reading a 2026-04-29 chart
Assume a 21K chart over the last 90 days to 2026-04-29: low 3,420 EGP (2026-02-12), high 3,720 EGP (2026-04-22), current 3,635 EGP, 90-day average 3,560 EGP. A quick read: the current price is 2.1% above the average and 2.3% below the high over 90 days. The trend is up but the price is not at a peak. Someone waiting for a correction may wait a week or more; someone wanting a quick entry finds the current point reasonable. Track the real data on the archive page.
What is the difference between a line chart and a candlestick chart?
In Gold Stater we use the simple line chart because it is fastest to read. A candlestick shows extra information per day (open, close, high, and low). Candlesticks help active traders, but for the ordinary saver the line chart gives all the needed information by connecting successive closes.
What are "gaps" in a chart and what do they mean?
A gap is a price jump between one day's close and the next day's open with no trading in between. It happens on weekends (the global market opens Monday at a different price if major news broke) and on exceptional events (a currency float, elections, a sudden crisis). In emerging markets like Egypt, gaps are more common; when you see a large gap, check the news for that period.
Conclusion
Before any buy or sell decision, pick three time ranges (1 month, 3 months, 1 year) and look at each. If the trend is up in all three, the price is strong; if mixed, there is a contradiction worth pausing on. The ounce price page shows the direct local-versus-global comparison.
Sources
- World Gold Council: gold market analysis and chart-reading guidance
- LBMA: historical ounce price data, 2026-04-29
- goldapi.io: live ounce price
- exchangerate-api.com: live exchange rate
- Central Bank of Egypt (CBE): official interest rates