Egypt's gold market experienced a significant decline in prices over the past week, from September 19 to 26, 2026, due to global market pressures. According to an analysis by the gold and jewelry trading platform, Aysagha, the decline was influenced by the repercussions of US monetary policy tightening, rising US bond yields, and developments in US-Iranian negotiations. These factors led to changes in investor expectations regarding geopolitical risks.
The price of 21-carat gold, the most widely traded in Egypt, fell from 6,395 pounds per gram on September 19 to 6,245 pounds on September 26, a loss of 150 pounds, or approximately 2.35%. This decline occurred amid efforts to stabilize local prices after a wave of drops at the beginning of the week. On September 26, the price of 21-carat gold was around 6,245 pounds, while 24-carat gold was priced at 7,137 pounds, and 18-carat gold at 5,353 pounds.
Slaeed Imbabi, Executive Director of Aysagha, stated that the decline in gold prices during the week primarily reflects the impact of US monetary policy and global ounce movements. He noted that rising US bond yields increase pressure on gold, while geopolitical developments remain a factor that can change market trends. Imbabi emphasized that the local market's pricing responds to global changes and converges with fair value levels calculated based on global ounce movements and exchange rates.
Imbabi pointed out that developments in US-Iranian negotiations will continue to influence gold movements in the coming period. He explained that a failure in diplomatic efforts could lead to renewed demand for oil, while progress in negotiations could limit this demand, affecting gold trends. Imbabi also stressed that liquidity is available in the local market, and there are no liquidity crises or problems with the market's ability to execute buy and sell operations.
The gold market experienced a total loss of 150 pounds in 21-carat gold over the week, representing a 2.35% decline. The price dropped in several stages, from 6,395 pounds on September 20 to 6,325 pounds on September 21, a loss of 70 pounds, before continuing to decline to 6,300 pounds on September 22. These movements reflect the continued impact of global pressures on the local market.
The decline in gold prices was influenced by a decrease in the global ounce and rising US bond yields, coinciding with a reassessment of the US monetary policy path. The current market trends indicate that investors are closely monitoring global developments and their impact on gold prices. The availability of liquidity in the local market is expected to help stabilize prices.
The recent fluctuations in gold prices highlight the interconnectedness of global and local markets. As investors continue to assess risks and opportunities, gold prices are likely to remain volatile. Market participants are advised to stay informed about global developments and their potential impact on gold prices in Egypt.
Key points
- Egypt's gold prices fell 150 pounds in a week due to global market pressures.
- The price of 21-carat gold declined to 6,245 pounds per gram on September 26.
- Geopolitical developments and US monetary policy tightening continue to influence gold prices.
