The global price of gold surged to a level not seen in 46 years, particularly since 1979, with an ounce reaching US$ 4,413. In the local market, the price of a gram of 21-karat gold jumped by LE 80 to reach LE 5,865, while 24-karat gold reached LE 6,702, 18-karat gold at LE 5,027, and a gold sovereign coin is at LE 46,920. Gold broke the $4,000 per ounce barrier for the first time in its history, amid expectations of its largest annual gains since 1979. Gold jewelry expert, Amir Rizk, explained that the local market is currently unstable and advised citizens to refrain from buying or selling until after the New Year’s holiday to restore stability. The Vice President of the General Division for Gold and Jewelry, Lotfy Mounib said that the global gold price index witnessed a significant increase on Monday, coinciding with the opening of gold markets, reaching a new record high.

Source: Egypt Independent December 23, 2025 08:26 UTC