The price of Egypt's gold pound rose during Friday's, October 2, 2026, transactions, by approximately 120 EGP. This increase is attributed to the rise in global gold prices and heightened demand for safe-haven assets. As of the evening transactions, the gold pound was priced at 49,200 EGP, not including the manufacturing cost, which varies depending on the producing company. This represents a notable increase from the opening transaction price of 49,080 EGP.
The price of 21-carat gold, from which the gold pound is made, reached 6,150 EGP per gram, excluding manufacturing costs. This is up from the opening transaction price of 6,135 EGP. The average difference between buying and selling prices was around 50 EGP. The gold pound is made of 8 grams of 21-carat gold. Various factors contribute to its pricing, including global market trends and local demand.
The gold pound has several characteristics that make it an attractive investment option. It is manufactured from 21-carat gold, weighing 8 grams. Other available denominations in the local market include half a pound, weighing 4 grams, and a quarter pound, weighing 2 grams. The manufacturing cost of the gold pound is relatively low compared to other gold products.
The manufacturing cost of the gold pound ranges between 50 and 75 EGP per gram. This translates to a total of 400 to 600 EGP. However, a portion of the manufacturing cost can be redeemed when resold, estimated at around 20 EGP, provided the gold pound is kept in its original condition and packaging. This "cashback" system is a well-known feature of gold pound investments.
Gold pounds can be categorized into two main types: the local (or Egyptian) gold pound and the old (or British) gold pound. The local gold pound is stamped by the Egyptian Ministry of Supply's Authority for Stamping and Weighing. It is considered a preferable investment option due to its ease of trade. The old gold pound, on the other hand, dates back to 1911 and includes various monarchs, all made of 21-carat gold weighing 8 grams.
The gold pound has garnered significant attention from investors due to its low manufacturing costs and the possibility of redeeming a portion of these costs. This investment option allows for flexibility and a relatively secure asset in times of economic uncertainty. As a result, the gold pound remains a popular choice among those looking to invest in gold.
In conclusion, the price of the gold pound in Egypt has seen an increase on October 2, 2026, in line with global gold price trends. With its relatively low manufacturing costs and potential for partial redemption, the gold pound continues to be an attractive option for investors seeking safe-haven assets.
Key points
- The gold pound's price increased by 120 EGP on October 2, 2026.
- The manufacturing cost of the gold pound ranges between 50 and 75 EGP per gram.
- The gold pound is made of 8 grams of 21-carat gold.
