The price of 21-karat gold, the most commonly traded in
Egypt, stood at approximately EGP 4,590 per gram, unchanged from the session’s
open, with limited intraday movement of around EGP 20.
Current gold prices in Egypt:
24-karat gold: EGP 5,246
21-karat gold: EGP 4,590
18-karat gold: EGP 3,934
Gold pound (8 grams of 21-karat): EGP 36,720
The local market’s stability mirrors global gold’s muted
performance at the start of the trading week, following a recent rally triggered
by weaker-than-expected US employment data. In Egypt, traders continue to watch
the dollar’s gradual decline against the pound, which remains a key factor
influencing gold prices.
Meanwhile, Fitch Solutions has raised its forecast for
Egypt’s economic growth to 4.6 percent for fiscal year 2025–2026, and revised
its estimate for the previous year to 3.9 percent from 3.7 percent. The
upgraded outlook reflects improving confidence in Egypt’s economic fundamentals
despite ongoing global uncertainty.