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Gold Prices Rise in Egypt Driven by Three Factors
Gold prices in the Egyptian market rose on Friday, August 21, 2026, reaching their highest level in three months due to an increase in the global price of the precious metal and the stability of the US dollar exchange rate at a high level since the beginning of August. The price of an ounce of gold recorded approximately $4,596, leading to higher prices for various denominations in Egypt, with 24-karat gold costing around 7,514 pounds and the more commonly traded 21-karat at about 6,575 pounds. The price of a gold pound was approximately 52,600 pounds. This rise is attributed to increased demand for gold and fluctuations in the dollar exchange rate, which reached 51 pounds, despite foreign investments flowing into the Egyptian markets. The precious metal continues its gain for the third consecutive week, with prices increasing by about 4% since the start of the week, adding roughly 250 pounds per gram. This continued increase is supported by the rising global gold prices and dollar fluctuations, amidst stable interest rates set by the Central Bank of Egypt at around 19-20%.
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