Egypt's gold market experienced a decline in prices on Wednesday, September 23, 2026, according to the latest update from the Egyptian Gemstones and Jewelry Division. The price of 21-carat gold dropped by 45 pounds, coinciding with the global decline in gold prices. This development occurs just before the Central Bank of Egypt's meeting, scheduled for Thursday, which will determine several crucial economic indicators, most notably the interest rate.
As of the latest update, the prices of gold in Egypt are as follows: 24-carat gold is selling for 7,114 pounds per gram, while 21-carat gold is priced at 6,225 pounds per gram. Additionally, 18-carat gold is trading at 5,335 pounds per gram. These prices are exclusive of the manufacturing cost and stamp duty, which vary depending on the region and province.
The price of a gold pound, which is equivalent to 8 grams of 21-carat gold, is currently selling for 49,800 pounds. On the global front, the price of an ounce of gold is trading at 4,279 dollars. These prices are subject to change based on market fluctuations and other economic factors.
The Egyptian Gemstones and Jewelry Division highlighted that the announced prices are the raw material prices and do not include the manufacturing cost and stamp duty. The manufacturing cost in Egypt typically ranges between 50 and 200 pounds per gram, depending on the design and the jewelry store. It is recommended that buyers compare prices across different stores and clearly inquire about the manufacturing cost and stamp duty before making a purchase.
In terms of gold bars, the prices, excluding manufacturing costs, are as follows: a 1-gram gold bar costs 7,114 pounds, a 2.5-gram bar costs 17,785 pounds, and a 5-gram bar costs 35,570 pounds. Furthermore, a 10-gram gold bar is priced at 71,140 pounds, a 20-gram bar at 142,280 pounds, and a 50-gram bar at 355,700 pounds.
The decline in gold prices in Egypt is attributed to the global decline in gold prices, as well as the anticipation of the Central Bank's meeting. The Central Bank's decision on interest rates and other economic indicators is expected to have a significant impact on the Egyptian economy and, subsequently, the gold market.
Market analysts advise investors and buyers to monitor the situation closely and make informed decisions based on market trends and economic indicators. The fluctuation in gold prices presents both opportunities and challenges for investors, and staying updated on market developments is crucial for making sound investment choices.
Key points
- Egypt's gold prices have declined ahead of the Central Bank's meeting.
- The price of 21-carat gold dropped by 45 pounds.
- The Central Bank's decision on interest rates is expected to impact the gold market.
