The Egyptian gold market has witnessed updates in its pricing during today's transactions, influenced by global trends and local market dynamics. As of Thursday, October 8, 2026, the price of gold has been adjusted, reflecting changes in the global market and the value of the US dollar. The General Gold Division of the Egyptian Federation of Chambers of Commerce reported these changes, highlighting the ongoing fluctuations in the price of gold.
The current market prices for gold in Egypt show that a gram of 21-karat gold, the most commonly traded, is selling for approximately 6110 Egyptian pounds and buying for 6080 pounds. Meanwhile, 24-karat gold is priced at 6983 pounds for buying and 6949 pounds for selling, not including manufacturing costs. These prices are subject to change based on several factors, including global gold prices, the exchange rate of the dollar against the Egyptian pound, and local market supply and demand.
To understand the potential profit or loss from buying and selling gold, let's consider an example. If one owns 10 grams of 24-karat gold, selling it could yield around 60,750 Egyptian pounds before accounting for any differences related to the condition of the gold items or the trader's terms. Conversely, buying 10 grams of new gold at the selling price would cost approximately 61,400 Egyptian pounds, not including manufacturing costs, taxes, or stamp duties.
The difference between buying and selling prices for 10 grams of gold is approximately 650 Egyptian pounds. However, this calculation does not take into account the costs associated with purchasing new gold items, such as manufacturing and stamp duties, which are not recoverable when reselling. This makes the actual cost of exiting a gold investment higher than just the difference in buying and selling prices.
Globally, gold prices have been influenced by the strength of the US dollar and rising US Treasury yields. As of Thursday, gold prices were near 4130 dollars per ounce for buying, after dropping to a two-month low on Wednesday. These global trends, combined with local market conditions, play a significant role in determining gold prices in Egypt.
The price of gold in Egypt is influenced by three main factors: the global price of an ounce of gold, the movement of the dollar against the Egyptian pound, and the levels of supply and demand in the local market. These factors can cause the value of gold, including 10 grams, to change throughout the day as prices fluctuate.
Understanding these dynamics is crucial for those involved in buying, selling, or investing in gold in Egypt. The fluctuations in gold prices can affect the potential profit from transactions and the overall value of gold holdings. Keeping abreast of both global trends and local market conditions is essential for making informed decisions in the gold market.
Key points
- The price of 10 grams of 24-karat gold can fetch around 60,750 Egyptian pounds when sold.
- The buying price for 10 grams of new 24-karat gold is approximately 61,400 Egyptian pounds.
- The difference between buying and selling prices for 10 grams of gold is about 650 Egyptian pounds.
