Egypt's gold market witnessed a notable decline in prices on Friday, October 2, 2026. According to the latest update from the Egyptian Gold and Jewelry Division, the price of 21-carat gold, a popular choice among Egyptians, fell by 15 pounds. This recent drop brings the price per gram of 21-carat gold to 6,120 pounds. The division provides regular updates on gold prices to reflect current market conditions.
The decline in gold prices is not limited to 21-carat gold alone. Other carats also experienced changes. The price of 24-carat gold, often used for making gold bars and coins, is currently at 6,994 pounds per gram. Meanwhile, 18-carat gold, commonly used in jewelry, is priced at 5,245 pounds per gram. These prices are based on the latest data available and may fluctuate throughout the day due to market dynamics.
In addition to the price drops in various carats of gold, the price of gold coins and bars has also been updated. A gold pound, which weighs 8 grams of 21-carat gold, is now priced at 48,960 pounds. For those interested in purchasing gold in larger quantities, the prices for gold bars (or bullion) vary according to weight. For instance, a 1-gram gold bar costs 6,994 pounds, while a 10-gram bar is priced at 69,940 pounds.
The global gold market also influences local prices. Currently, the price of an ounce of gold on the international market stands at 4,138 dollars. This global pricing affects the local market, as Egypt imports gold and other precious metals. Understanding both local and international gold prices can help consumers and investors make informed decisions.
When purchasing gold in Egypt, consumers should be aware of additional costs beyond the price of the gold itself. The "manufacturing cost" or "workmanship" fee, which varies depending on the design and the jewelry store, typically ranges between 50 and 200 pounds per gram. This cost can significantly add to the total price of gold jewelry. Moreover, the "stamp" or tax on gold, which also varies, should be considered.
The Egyptian Gold and Jewelry Division advises consumers to compare prices across different stores and to clearly inquire about the manufacturing cost and stamp fee before making a purchase. This transparency can help buyers get the best value for their money. Additionally, buying gold bars or coins often comes with lower manufacturing costs compared to intricate jewelry pieces.
Gold prices can fluctuate daily based on a variety of factors, including international market trends, currency exchange rates, and local demand. For the most accurate and up-to-date pricing, consumers are encouraged to check the latest updates from reliable sources such as the Egyptian Gold and Jewelry Division. By staying informed, buyers can navigate the gold market more effectively.
Key points
- The price of 21-carat gold in Egypt has dropped by 15 pounds to 6,120 pounds per gram.
- The global price of gold is currently at 4,138 dollars per ounce.
- Consumers should consider additional costs such as manufacturing fees and stamp taxes when buying gold in Egypt.
