On Thursday, October 1, 2026, the Egyptian gold market experienced a stable start to the day's trading. Following a decline in gold prices at the close of the previous day's trading, market participants are closely monitoring global gold prices and the exchange rate of the US dollar against the Egyptian pound. These factors significantly influence gold prices in the Egyptian market. According to the Egyptian Radio and Television Union, prices are subject to fluctuations based on global and local market dynamics.
As of the latest update from the Gold and Jewelry Division of the Egyptian Federation of Chambers of Commerce, the price of 21-carat gold, which is the most popular, stood at 6125 EGP for sale and 6090 EGP for purchase. Meanwhile, the price of 24-carat gold remained steady at 7000 EGP for sale and 6960 EGP for purchase. These prices reflect the current market situation and are influenced by both local and international factors.
In addition to the 21 and 24-carat gold prices, other carats also saw stable pricing. Eighteen-carat gold was priced at 5250 EGP for sale and 5220 EGP for purchase. Fourteen-carat gold stood at 4056 EGP for sale and 4073 EGP for purchase. These prices are crucial for consumers and investors alike, as they make informed decisions based on the current market rates.
The gold market also saw the price of the gold pound stabilize. The gold pound, which weighs 8 grams of 21-carat gold, was priced at 49000 EGP for sale and 48720 EGP for purchase. These prices do not include additional costs such as manufacturing, taxes, or stamp duty. The stability in gold prices offers a positive outlook for both buyers and sellers in the market.
Market analysts attribute the stability in gold prices to the balance between global market trends and local economic conditions. The Egyptian economy, like many others, is influenced by international events, including changes in global gold prices and currency exchange rates. As such, stakeholders in the gold market are advised to stay informed about these factors to make well-timed decisions.
The gold market is not isolated from other economic sectors. Recent developments in the global economy, such as discussions on US-Iranian peace talks and their impact on oil prices, can have a ripple effect on gold prices. As of Thursday, October 1, 2026, oil prices have stabilized, which could contribute to the stability observed in the gold market.
Looking ahead, market participants will continue to monitor both local and international factors that could influence gold prices. With the current stability in the market, consumers and investors can make informed decisions based on the prevailing prices. The Egyptian gold market, being a significant sector of the economy, will likely continue to reflect changes in global market trends and local economic conditions.
Key points
- 21-carat gold is priced at 6125 EGP for sale and 6090 EGP for purchase.
- The stability in gold prices is influenced by both global market trends and local economic conditions.
- The gold market's performance is closely tied to international events and local economic factors.
