Egypt's gold market witnessed a continued decline in prices on Tuesday, September 22, 2026. The price of a gram of gold dropped by approximately 40 pounds, marking the second consecutive day of losses. This brings the total loss to around 100 pounds in just two days. The decline is attributed to global gold price movements, exchange rate fluctuations, and local market demand.
As of Tuesday, the price of a gram of 21-carat gold stood at around 6,280 pounds, excluding manufacturing costs. This represents a decrease from the previous day's price of 6,320 pounds. The difference between buying and selling prices averaged around 40 pounds. Meanwhile, the global gold price, measured in ounces, was reported at 4,330 dollars. This comes after opening at 4,343 dollars and fluctuating between 4,391 and 4,376 dollars.
Market participants are closely monitoring geopolitical developments and economic indicators, in addition to oil prices. These factors are expected to influence gold prices in the coming days. The current prices in the local market, as of Tuesday evening, are as follows: 24-carat gold is priced at around 7,177 pounds per gram, while 18-carat gold costs approximately 5,382 pounds per gram.
Furthermore, 14-carat gold is trading at around 4,186 pounds per gram, and the gold pound is priced at 50,240 pounds. These prices do not include manufacturing costs, which vary depending on the trader, location, and type of gold product. Manufacturing costs typically range between 3% and 7% of the gram price, although this can be higher or lower depending on the product's design and production process.
The manufacturing cost of gold products differs significantly between traders and can also vary depending on the gold carat. For instance, 18-carat gold products usually have higher manufacturing costs compared to 24-carat gold, which is commonly used for making gold bars. The production cost of 24-carat gold is relatively lower due to its widespread use in the gold industry.
The decline in gold prices in Egypt is largely influenced by global market trends. The price of gold on the global market has been fluctuating due to various economic and geopolitical factors. As a result, local gold prices have been adjusting to reflect these changes.
Gold prices are expected to continue fluctuating in response to changes in global market conditions. Factors such as exchange rates, oil prices, and economic indicators will likely play a significant role in determining future price movements.
Key points
- Gold prices in Egypt have dropped for the second consecutive day, with a total loss of 100 pounds per gram in two days.
- The current price of 21-carat gold in Egypt is around 6,280 pounds per gram, excluding manufacturing costs.
- Global gold prices, measured in ounces, were reported at 4,330 dollars on Tuesday.
