Gold prices in Egypt: 21-karat gold records a historic high of 6735 Egyptian pounds

Egypt's gold markets witnessed dramatic shifts last week, with gold prices reaching unprecedented highs, driven by a global surge and geopolitical tensions that impacted local markets. The price of a gram of 21-karat gold, the most traded and sold type in Egypt, jumped above 6,700 Egyptian pounds, reflecting increased demand and economic pressures on the precious metal.

Price details and weekly jump

According to a report issued by the online gold and jewelry trading platform "iSagha," prices achieved weekly gains of 9.4%, a significant increase reflecting the volatile market. Saeed Embaby, the platform's CEO, explained that the local market responded immediately to global movements, with the price per gram rising by approximately 580 Egyptian pounds in just one week. The 21-karat gold price opened at 6,155 Egyptian pounds and closed the week at a record high of 6,735 Egyptian pounds.

The increase was not limited to 21-karat gold only, but included all karats, with prices recording the following levels:

• 24-karat gold: It recorded approximately 7,697 Egyptian pounds, which is the karat used for gold bullion.
• 18-karat gold: It reached approximately 5,773 Egyptian pounds.
• a gold pound jumped to 53,880 pounds.

Global factors and the impact of geopolitical tensions

This local surge coincides with a significant jump in the price of gold on the global market, rising by 8.5% and achieving its strongest weekly gains in nearly six years. Experts attribute this dramatic increase to escalating geopolitical tensions in various parts of the world, prompting investors and central banks to turn to gold as a safe haven to hedge against risks and financial market volatility. This has directly impacted local pricing in Egypt.

Supply crisis and local price gap

Domestically, the report revealed another challenge facing the market: a severe shortage of gold and silver bullion. This is primarily due to the continued suspension of imports by companies, leaving the market almost entirely reliant on resales from the public (scrap gold) and its circulation. This supply shortage coincided with a surge in domestic demand from citizens seeking to preserve the value of their savings.

The report indicated that the gap between the local and international prices has widened to approximately 146 Egyptian pounds per gram, due to increased demand and limited supply, despite the relative stability of the dollar exchange rate in the local market. It is worth noting that gold has grown by 15.5% since the beginning of this year, with gains of 905 Egyptian pounds per gram, in line with global gains that have exceeded $670 per ounce since the beginning of 2026.