The price of Egypt's gold pound decreased by 400 EGP during Wednesday's market transactions, September 23, 2026. This drop was influenced by a decline in local gold prices and a global decrease of over 40 USD in the price of an ounce on the international stock exchange. As of mid-day transactions, the gold pound was priced at 50,000 EGP, not including manufacturing costs. This represents a decrease from the beginning of the day's transactions when it was priced at 50,400 EGP.
On September 23, 2026, the price of 21-carat gold, used to make the gold pound, was 6,250 EGP per gram without manufacturing costs. This is a decrease from the start of the day's transactions when it was priced at 6,300 EGP per gram. The average difference between buying and selling prices was around 30 EGP. The gold pound is made of 8 grams of 21-carat gold. Various types of gold pounds are available in the local market, including half and quarter pound options.
The manufacturing cost of a gold pound is relatively low compared to other gold products. The cost ranges between 50 and 75 EGP per gram, totaling between 400 and 600 EGP. However, a portion of the manufacturing cost can be recovered when reselling the gold pound, estimated at around 20 EGP, provided the original packaging and condition are maintained. This "cash back" system is a well-known benefit of investing in gold pounds.
Gold pounds have gained significant attention from investors due to their low manufacturing costs and the possibility of recovering a portion of these costs. There are primarily two types of gold pounds: the local (or Egyptian) gold pound and the old (or British) gold pound. The local gold pound weighs 8 grams of 21-carat gold and is stamped by the Egyptian Ministry of Supply.
The local gold pound is considered a better investment option due to its ease of trading. On the other hand, the old British gold pound dates back to 1911 and features various monarchs, including George, Victoria, and Edward, all made of 21-carat gold and weighing 8 grams. Both types of gold pounds are popular among investors.
The gold market in Egypt has seen fluctuations in recent times, with the price of gold grams dropping by 50 EGP locally. This decrease has contributed to the decline in the gold pound's price. The Egyptian Ministry of Supply and the gold market continue to play crucial roles in regulating and influencing gold prices in the country.
As of September 23, 2026, the gold pound's price decrease reflects broader market trends. With its 8-gram weight and 21-carat purity, the gold pound remains a popular investment choice. Market trends and global gold prices will likely continue to impact the price of the gold pound in Egypt.
Key points
- The gold pound's price dropped by 400 EGP on September 23, 2026.
- The manufacturing cost of a gold pound ranges between 400 and 600 EGP.
- The gold pound is made of 8 grams of 21-carat gold.
