Gold prices in Egypt have stabilized in the local market on Sunday, October 4, 2026, as the global gold market was on a weekly holiday. The global gold market concluded its Friday trading session with weekly losses exceeding $140 per ounce. Trading will resume the following day. The price of gold per ounce on the global market closed at $4,140, down from $4,286 at the start of the week's trading.
The decline in gold prices was attributed to rising US bond yields and increased expectations of continued monetary tightening by the US Federal Reserve. Additionally, fluctuations in oil prices due to geopolitical events have influenced the market. In Egypt, the price of 21-carat gold, the most in-demand, was recorded at around 6,130 pounds per gram, excluding manufacturing costs. This represents a weekly loss of approximately 100 pounds per gram.
The price of gold per gram varies based on several factors, including the type of gold and the manufacturing company, as well as the location. The average difference between buying and selling prices was around 50 pounds per gram. The current prices of gold in Egypt are as follows: 24-carat gold is priced at 7,006 pounds per gram, 21-carat gold at 6,130 pounds per gram, 18-carat gold at 5,254 pounds per gram, and 14-carat gold at 4,087 pounds per gram.
The price of a gold pound, which weighs 8 grams, was recorded at 49,040 pounds. On the global market, the price of an ounce of gold was $4,140. The manufacturing cost of gold ranges between 3% and 7% of the gram price, depending on the effort required to manufacture gold jewelry. This cost may vary based on the producing company or workshop.
The manufacturing cost also differs based on the type of gold, with 18-carat gold typically having a higher manufacturing cost compared to 24-carat gold, which is often used for making gold bars and has lower manufacturing costs. Gold prices have been affected by various factors, including fluctuations in oil prices and global economic conditions.
The stability of gold prices in Egypt on Sunday reflects the local market's response to global trends. Despite the weekly losses in the global market, the prices in Egypt have remained steady. The market is expected to react to future changes in global economic conditions and gold prices.
The gold market is influenced by various factors, including monetary policies, geopolitical events, and changes in oil prices. As the global market continues to evolve, gold prices in Egypt and worldwide are likely to fluctuate in response to these changes. The current prices of gold in Egypt provide an indication of the market's current state.
Key points
- Gold prices in Egypt remained stable on Sunday, October 4, 2026.
- The price of 21-carat gold was recorded at around 6,130 pounds per gram.
- The global gold market concluded its Friday trading session with weekly losses exceeding $140 per ounce.
