On Thursday, November 5, 2026, gold prices in Egypt experienced a limited increase in the local market, despite a significant surge in global prices. The global gold price, measured in ounces, rose to $4,124 in mid-trading sessions, up from $4,060 at the start of the day. This increase is attributed to the Democratic Party's gains in the US midterm elections, leading to a decline in the dollar index and bond yields.
In Egypt, the gold market showed relative stability, with the local price influenced by the decline in the dollar exchange rate. The price of a gram of 21-carat gold, a popular gold type in Egypt, rose by around 10 pounds to reach 6,260 pounds, excluding manufacturing costs. The difference between buying and selling prices averaged around 40 pounds. This stability in local prices can be attributed to the limited impact of global price fluctuations on the Egyptian market.
The current prices of gold in Egypt, excluding manufacturing costs, are as follows: 24-carat gold is priced at 7,154 pounds per gram, 21-carat gold at 6,260 pounds per gram, 18-carat gold at 5,365 pounds per gram, and 14-carat gold at 4,173 pounds per gram. The price of a gold pound, weighing 8 grams, is 50,080 pounds.
Globally, gold prices saw a significant increase, with the ounce price rising by nearly $200 following the US midterm elections. This surge is linked to the Democratic Party's performance, which led to a decline in the dollar index and bond yields. Investors are now closely monitoring geopolitical developments and economic data, as well as oil prices, for further market insights.
The manufacturing cost of gold in Egypt typically ranges between 3% and 7% of the gram price, varying depending on the type of gold, manufacturer, and location. The manufacturing cost for 18-carat gold is generally higher due to more intricate designs, while 24-carat gold, used for producing gold bars of various weights, tends to have lower manufacturing costs.
The Egyptian market has seen a relatively calm response to global price fluctuations, with local prices reflecting limited changes. This stability can be attributed to various factors, including the country's economic conditions and market dynamics. As global events continue to unfold, the Egyptian gold market is likely to respond accordingly.
In related news, Egypt's customs authority recently announced a protocol with the Arab Investors Union to facilitate customs procedures. Additionally, the Financial Supervisory Authority organized a specialized lecture on governance of sustainability practices. These developments highlight Egypt's ongoing efforts to improve its business environment and regulatory frameworks.
Key points
- Egypt's gold prices rose on Thursday, November 5, 2026, with the 21-carat gold price reaching 6,260 pounds per gram.
- Global gold prices surged by nearly $200 following the US midterm elections.
- The manufacturing cost of gold in Egypt typically ranges between 3% and 7% of the gram price.
