Egypt's gold market experienced stability on Saturday, October 3, 2026, with prices holding steady after exhibiting sideways movements in recent days. According to Sawt Al-Umma, the price of 21-carat gold, the most widely traded in Egypt, remained at 6150 pounds per gram. This stability comes as the market closely monitors global ounce movements and dollar exchange rates.
The prices of various gold carats in Egypt were reported as follows: 24-carat gold at 7029 pounds per gram, 18-carat gold at 5271 pounds per gram, 14-carat gold at 4100 pounds per gram, and 22-carat gold at 6441 pounds per gram. Additionally, the price of a gold pound was recorded at 50,325 pounds. These prices reflect a stable market with minimal fluctuations.
The Egyptian gold market is currently moving within a narrow range, attempting to establish a price base at current levels. This trend is largely influenced by movements in the global ounce and dollar exchange rates. The local pricing is sensitive to these international factors, which in turn affect the market's overall performance.
The dollar exchange rate in Egypt has seen an increase of approximately 50 piasters since the beginning of the week, stabilizing above 52 pounds. This adjustment has supported the gold market in Egypt, enabling it to maintain its stability despite pressures on global prices. The relationship between the dollar and gold prices remains a critical factor in market dynamics.
On the global front, gold prices have stabilized for the third consecutive day, with a slight increase of 0.1% to reach 4196 dollars per ounce as the highest level during the session. At the time of reporting, the price was around 4181 dollars, up from 4175 dollars at the opening of trading. This stability indicates a cautious market approach.
Globally, gold is attempting to maintain its trading above 4150 dollars per ounce, targeting the 4200 dollar level. However, the 4300 dollar mark remains a significant resistance level that market observers are watching closely. The current trend suggests a careful assessment of market conditions and potential future movements.
In summary, Egypt's gold market is characterized by stability, with prices holding steady across various carats. This stability is influenced by both local and international factors, including dollar exchange rates and global gold prices. As the market continues to evolve, stakeholders remain attentive to any changes that may impact gold pricing in Egypt.
Key points
- Egypt's gold market sees stability with 21-carat gold priced at 6150 pounds per gram.
- Global gold prices have stabilized, with a slight increase to 4196 dollars per ounce.
- The Egyptian market's stability is supported by a dollar exchange rate above 52 pounds.
