Gold prices in Egypt posted a sharp increase over the past week, supported by rising global prices and continued fluctuations in the exchange rate of the U.S. dollar against the Egyptian pound. The price of 21-karat gold, the most actively traded in the local market, rose by 4.74% to EGP 7,175 per gram by the end of the week. According to Ehab Wassef, head of the Gold and Precious Metals Division at the Federation of Egyptian Industries, the domestic market was directly influenced by the global uptrend in gold prices, alongside exchange rate volatility. Wassef added that local gold pricing remains closely correlated with international markets, particularly amid ongoing geopolitical tensions that have heightened uncertainty and fuelled volatility. He added that Egypt’s gold market is likely to remain closely tied to global developments and exchange rate movements, advising investors to monitor trends carefully and make informed decisions amid ongoing volatility.

Source: Daily News Egypt April 05, 2026 20:24 UTC