Gold prices in Egypt: 24-karat gold nears 7,000 Egyptian pounds, and forecasts for 2026

Gold prices in Egypt continued their strong upward trend that began at the start of 2026, reaching new record highs and placing the precious metal at the forefront of investor and consumer interest alike. Monday evening saw a significant jump, with the price per gram rising by approximately 60 Egyptian pounds compared to morning levels, driven by successive increases in global markets and the local market.

Price details in the Egyptian market

According to the latest data from the iSagha gold and jewelry trading platform, prices have reached unprecedented levels. The price of a gram of 21-karat gold – the most popular and widely sold karat in Egypt – ranged between 6,080 and 6,095 Egyptian pounds (excluding labor costs). Meanwhile, 24-karat gold, typically used in investment bullion, approached the 7,000-pound mark, recording between 6,950 and 6,988 pounds per gram. The price of a gold sovereign also rose, moving between 48,640 and 48,760 pounds.

Driving factors: between global and local

This surge cannot be separated from the overall economic context; gold prices in Egypt are subject to a precise equation that depends primarily on the global price per ounce and the local exchange rate of the dollar. Globally, the price of an ounce of gold broke new barriers, settling above $4,500 to $4,510, reflecting international investors' flight to gold as a safe haven. Locally, the fluctuation of the dollar exchange rate in both the parallel and official markets, which ranges between 47.2 and 47.7 Egyptian pounds, has contributed to these price increases.

Gold as a store of value and its impact on markets

These developments are particularly significant given the ongoing search by citizens for savings vehicles that protect the value of their money from inflationary erosion. Experts indicate that prices reaching these levels may alter the behavior of Egyptian consumers, with a predicted decline in demand for traditional gold jewelry (ornaments) in favor of gold bars and coins, which are characterized by lower manufacturing costs and higher investment value. This shift reflects a growing awareness of gold's importance as a long-term hedge, not merely as an adornment.

Expert predictions: Will we see 7000 soon?

In analyzing future price forecasts, specialists believe the upward trend is the most likely scenario. Nadi Naguib, former Secretary General of the Gold Division, confirmed that the price of 21-karat gold reaching 7,000 Egyptian pounds is no longer far-fetched, but rather a strong possibility by 2026. Forecasts indicate the potential to surpass the 6,500 Egyptian pound mark per gram during the first quarter of this year, provided current supporting factors such as global tensions and exchange rate volatility persist, thus keeping the door open for further historic price increases.