Egypt's gold market experienced a significant drop in prices on Monday, September 21, 2026, with the price of 21-carat gold, the most popular in the local market, falling to around 6,360 pounds per gram. This decline is attributed to the decrease in the dollar's value against the Egyptian pound in banks and the global drop in gold prices. The 21-carat gold price decreased by 20 pounds, reflecting the fluctuations in the market.
The decline in gold prices in Egypt is primarily influenced by two key factors: the exchange rate of the dollar against the pound and global gold price movements. The global gold price, measured in ounces, dropped by 23 dollars to reach 4,355 dollars. This decrease had a direct impact on the local market, as gold prices in Egypt are largely dependent on global trends and currency fluctuations.
Market participants are closely monitoring the developments in global price movements and exchange rates, as the precious metal's value is significantly affected by changes in global financial markets and safe-haven demand. The 21-carat gold price has garnered substantial attention from consumers and investors due to its high trading volume in the Egyptian market.
The current prices of gold in the Egyptian market are as follows: 24-carat gold is priced at around 7,269 pounds per gram, 18-carat gold at approximately 5,451 pounds per gram, and 14-carat gold at about 4,240 pounds per gram. The price of a gold pound is around 50,880 pounds, excluding manufacturing, stamping, and tax costs.
The decline in global gold prices and the drop in the dollar's value against the pound have contributed to the decrease in gold prices in Egypt. As the local market is heavily influenced by global trends, any fluctuations in the dollar's value or global gold prices are quickly reflected in the prices of gold in Egypt.
Market participants will continue to monitor the movement of the dollar globally and locally, as well as trends in interest rates and global markets, as these factors significantly impact gold prices. The ongoing situation has created a sense of anticipation regarding the future trajectory of gold prices.
The Egyptian gold market is expected to remain responsive to changes in global market conditions and currency fluctuations. As the market continues to evolve, participants will be closely watching for any changes that may impact gold prices in the country.
Key points
- Egypt's 21-carat gold price dropped to 6,360 pounds per gram on Monday, September 21, 2026.
- Global gold prices fell by 23 dollars to reach 4,355 dollars per ounce.
- The decline in gold prices in Egypt is primarily influenced by the exchange rate of the dollar against the pound and global gold price movements.
