Egypt's gold market experienced a surge in prices on Sunday, 27 September 2026, following the Central Bank of Egypt's decision to maintain interest rates. The 21-carat gold price rose by 10 EGP, reaching 6240 EGP per gram. This increase is attributed to the central bank's decision, announced on Thursday, to keep its basic interest rates unchanged. The bank's Monetary Policy Committee decided to maintain the deposit and lending rates at 19.00% and 20.00%, respectively.
The Central Bank of Egypt's decision to keep interest rates unchanged had a ripple effect on the gold market. The price of 24-carat gold reached 7131 EGP per gram, while 18-carat gold remained stable at 5348 EGP per gram. The gold pound, weighing 8 grams of 21-carat gold, increased by 80 EGP to 49920 EGP. These prices are based on the latest update from the General Federation of Gold and Jewelry.
According to the General Federation of Gold and Jewelry, the prices mentioned are for trading in the gold market and do not include the manufacturing cost or stamp duty. The actual prices may vary slightly between provinces. The federation provides regular updates on gold prices to reflect market fluctuations.
The global gold market also experienced a change, with the price of an ounce reaching 4288 USD. This change may influence the Egyptian gold market, as global trends often impact local prices. The Egyptian gold market is sensitive to international market fluctuations.
The recent interest rate decision by the Central Bank of Egypt aimed to maintain economic stability. By keeping interest rates unchanged, the bank seeks to control inflation and support the local currency. However, this decision led to an increase in gold prices, making it essential for investors and consumers to monitor market developments.
Gold is a popular investment option in Egypt, and its prices are closely watched by the public. The price fluctuations can affect not only investors but also individuals planning to buy or sell gold. The General Federation of Gold and Jewelry plays a crucial role in providing updates on gold prices.
The gold market in Egypt is expected to continue reacting to both local and global economic developments. As the market fluctuates, investors and consumers must stay informed about the latest trends and price changes. The Central Bank of Egypt's decisions and global market movements will likely continue influencing gold prices in the country.
Key points
- Egypt's gold prices increased after the central bank's decision to maintain interest rates unchanged.
- The 21-carat gold price rose by 10 EGP, reaching 6240 EGP per gram.
- The global gold market also experienced a change, with the price of an ounce reaching 4288 USD.
