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FII Reports 4.6% Gold Price Rise in Egypt in 2026
Gold prices in Egypt have increased by 4.6% since the beginning of 2026, equivalent to about 270 Egyptian pounds per gram, bringing the price of 21-karat gold to 6,095 pounds by the end of last week. This rise is mainly attributed to a 7.3% increase in global gold prices over the week, with the ounce reaching its highest level in a month and a half at $4,341. Supporting this trend is the 2.7% decline of the dollar against the Egyptian pound, as well as increased central bank buying, which was based on holdings of 51 tons of gold in June, along with inflows into investment funds supported by billions of dollars. Additionally, the rise in foreign exchange reserves to $56.29 billion reflects market stability, which limits the impact of the global rise in gold prices on the Egyptian market.
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