Gold prices in Egypt stabilized at the opening of trading on Monday, , following a decline in global markets. This downturn is attributed to reduced trading volumes due to closures of US and Chinese markets for public holidays, diminishing market momentum.
Gold Prices in Egypt Today, Monday
– 24 Karat: 7,565 Egyptian Pounds.
– 21 Karat: 6,620 Egyptian Pounds.
– 18 Karat: 5,674 Egyptian Pounds.
– Gold Pound: 52,960 Egyptian Pounds.
Globally, the price of an ounce of gold decreased by 0.7%, falling to $4964 as the lowest point during the session, after opening at $5017. This proves currently trading around $5006 per ounce. Despite attempts to maintain trading above the $5000 level, movements remain volatile, with momentum indicators nearing the neutral zone, indicating a lack of clear direction.
The current decline is largely a corrective move following strong gains recorded at the end of last week, when gold rose by approximately 2.5% supported by US inflation data. The US Consumer Price Index (CPI) data for January showed a 0.2% increase, bolstering expectations that the US Federal Reserve may move to cut interest rates sooner than anticipated, which drove gold prices higher at that time.
However, with no new catalysts emerging, coupled with the closure of US markets for “Presidents’ Day” and Chinese markets for the Lunar New Year, liquidity has decreased and some investors have opted to take profits. This resulted in a limited decline at the start of the week.
The price of gold in Egypt is heavily influenced by global market fluctuations and the exchange rate of the Egyptian Pound. The recent weakening of the Egyptian Pound against the US dollar has contributed to the higher gold prices observed in local currency terms. According to data from goldprice.org, as of Sunday, , spot gold prices were being closely monitored, with email updates available for those tracking the market.
Looking at historical data for 2026, the average price of gold in Egypt was EGP 226,076 per ounce, with a high of EGP 253,876 on January 28, 2026, and a low of EGP 206,652 on January 2, 2026. The price of 24K gold in Egyptian Pounds increased by +14.13% throughout 2026, indicating a generally upward trend despite recent corrections.
The discovery of a 3,000-year-old “lost city of gold” in the Egyptian desert, recently reported by the Times of India, may indirectly influence investor sentiment towards gold. While not directly impacting prices, the find underscores Egypt’s historical association with gold and could contribute to increased interest in the precious metal as a store of value. The archaeological discovery highlights the enduring cultural and economic significance of gold in the region.
Analyzing gold prices by karat reveals the following as of : 23K gold is trading at EGP 7,243.20 per gram, 22K at EGP 6,875.41, 21K at EGP 6,567.67, 18K at EGP 5,629.43, and 14K at EGP 4,390.95 per gram. These figures demonstrate the price differential based on gold purity, a key consideration for consumers and investors.
The current market conditions suggest a period of consolidation for gold prices. While the long-term outlook remains positive due to factors such as potential interest rate cuts and geopolitical uncertainties, short-term price movements are likely to be influenced by market liquidity and investor sentiment. The lack of major economic data releases this week, combined with the ongoing holiday closures, could contribute to continued volatility.
The exchange rate between the Egyptian Pound and the US dollar will continue to be a critical factor influencing gold prices in Egypt. Any significant fluctuations in the exchange rate could lead to corresponding changes in local gold prices. Investors and consumers are advised to closely monitor both global gold market trends and the performance of the Egyptian Pound.
As of , at 08:46 pm GMT, the price of gold per gram in Egypt is EGP 7,505.91, a decrease of EGP 44.06 compared to the previous day’s closing price. This represents a change of -0.58%. The bid price is EGP 7,505.53, while the ask price is EGP 7,506.28.
