Gold prices in Egypt experienced a minor increase on Tuesday, October 6, 2026, in line with the global market trend. The price of gold in the local market rose slightly, with the most sought-after 21-carat gold priced at 6140 Egyptian pounds per gram, excluding manufacturing costs, compared to 6135 pounds previously. The average difference between buying and selling prices was around 50 pounds.
Globally, the price of gold on the world stock exchange was $4151 per ounce, after opening at $4140 and fluctuating between $4103 and $4158. Investors are closely monitoring geopolitical developments, economic data, and oil prices. The increase in gold prices is attributed to the market's anticipation of the US Federal Reserve's meeting minutes, set to be released on Wednesday, which may provide clearer indications of future monetary policy.
The current prices of gold in Egypt, excluding manufacturing costs, are as follows: 24-carat gold is priced at 7017 pounds per gram, 21-carat gold at 6140 pounds per gram, 18-carat gold at 5262 pounds per gram, and 14-carat gold at 4093 pounds per gram. The price of a gold pound is 49120 pounds. These prices do not include manufacturing costs, which vary depending on several factors, including the type of gold and the manufacturing company.
The manufacturing cost of gold is estimated to range between 3% and 7% of the gold price, and may vary depending on the effort required to manufacture gold products. The cost of manufacturing 18-carat gold is generally higher than that of 24-carat gold, which is often used to produce gold bars and has lower manufacturing costs.
The fluctuation in gold prices is closely watched by investors, as it can be affected by various economic and geopolitical factors. The release of the US Federal Reserve's meeting minutes is expected to provide insights into the future direction of monetary policy, which may impact gold prices.
Egypt's gold market is influenced by global trends, and local prices often mirror international changes. The country's gold market is also affected by domestic factors, such as supply and demand, and the value of the Egyptian pound.
As investors await the release of the US Federal Reserve's meeting minutes, gold prices are likely to remain volatile. The minutes may provide clues about the Fed's future policy decisions, which could impact gold prices and other financial markets.
Key points
- Gold prices in Egypt rose slightly on Tuesday, in line with global trends.
- The market is awaiting the release of US Federal Reserve meeting minutes for insights into future monetary policy.
- The price of 21-carat gold in Egypt is currently 6140 Egyptian pounds per gram, excluding manufacturing costs.
