Gold Prices in Egypt Hit New Record Levels at Start of Today’s Trading

Gold prices in Egypt continued their strong upward trend at the start of today’s trading, reaching new all-time highs amid rising local demand and a sharp increase in global prices.

The price of 21-karat gold, the most traded in the Egyptian market, climbed to around 6,390 EGP per gram, marking an increase of nearly 35 pounds compared to previous levels.

The price of 24-karat gold rose to 7,302 EGP per gram, while 18-karat gold reached 5,477 EGP, and 14-karat gold recorded 4,260 EGP per gram, reflecting strong momentum in the precious metals market.

Meanwhile, the gold pound was priced at about 51,120 EGP, subject to variation by merchant, while a 10-gram gold bar reached approximately 73,020 EGP.

The local ounce price stood near 227,092 EGP.

Globally, gold prices jumped by 2.55% to around $4,885 per ounce, driven by market uncertainty and increased demand for safe-haven assets, directly impacting gold prices in Egypt.