The 24-karat gold was sold at around EGP 6,114 per gram in
the local market, with expectations of further upward movement in the coming
hours.
Gold prices in Egypt today:
24-karat: EGP 6,114 per gram
21-karat: EGP 5,350 per gram
18-karat: EGP 4,585 per gram
Gold Pound: EGP 42,800
Market forecasts suggest that global gold prices could rise
to around USD 6,000 per ounce in 2026, supported by growing geopolitical
tensions and continued global interest rate cuts, which enhance gold’s appeal
as a safe-haven asset.
The local price increase was also linked to the rise in
global spot gold prices, amid stronger demand following a decline in US
inflation to 3% last month. The development strengthened expectations that
monetary easing policies may continue through the first quarter of next year.