Egypt's gold market witnessed a sudden decline in prices on Tuesday, September 22, 2026, with 21-carat gold losing 45 pounds per gram. According to the General Federation of Gold in the Egyptian Federation of Chambers of Commerce, the price of 21-carat gold fell to 6,285 pounds per gram during mid-transactions. This significant drop has sparked interest in understanding the reasons behind this sudden change and its impact on the local and global gold market.
The latest update from the General Federation of Gold revealed that the prices of various gold carats have changed. The price of 24-carat gold was recorded at 7,183 pounds per gram for buying and 7,149 pounds per gram for selling. Meanwhile, 21-carat gold was priced at 6,285 pounds per gram for buying and 6,255 pounds per gram for selling. Additionally, 18-carat gold was sold at 5,383 pounds per gram for buying and 5,387 pounds per gram for selling.
The price of the gold pound, which weighs 8 grams of 21-carat gold, was recorded at 50,280 pounds for buying and 50,040 pounds for selling. These changes reflect a significant shift in the gold market, which may be influenced by various economic and political factors. The decline in gold prices may attract more buyers, but it also raises concerns about the market's stability.
The recent decline in 21-carat gold prices to around 6,285 pounds per gram is a notable change compared to its price in February 2026, which ranged between 6,800 and 7,100 pounds per gram. This fluctuation in the gold market can be attributed to ongoing geopolitical events in the Middle East. The region's tensions have contributed to the volatility in gold prices, making it challenging for investors to predict future market trends.
The value of craftsmanship and stamping fees in gold shops varies significantly from one trader to another and from one governorate to another. On average, the craftsmanship and stamping fees for 21-carat gold range between 70 and 100 pounds per gram, depending on the trader. For 18-carat gold, these fees are higher, ranging between 100 and 150 pounds per gram, due to the intricate details and technical aspects of gold pieces.
The sudden drop in gold prices has raised questions about the market's future performance. While some analysts attribute the decline to a correction in the market, others believe that it may be a temporary fluctuation. The General Federation of Gold and the Egyptian Federation of Chambers of Commerce are closely monitoring the situation to provide insights and guidance to investors and consumers.
As the gold market continues to experience fluctuations, investors and consumers are advised to stay informed about market trends and developments. The Egyptian gold market is known for its resilience, but it is not immune to global economic and political factors. Understanding these factors and their impact on gold prices can help stakeholders make informed decisions about their investments.
Key points
- 21-carat gold lost 45 pounds per gram on Tuesday, September 22, 2026.
- The price of 21-carat gold fell to 6,285 pounds per gram during mid-transactions.
- The gold market's fluctuations can be attributed to ongoing geopolitical events in the Middle East.
