Gold prices in Egypt witnessed a historic and unprecedented surge on Thursday, January 29, 2026, with the price of a gram of 21-karat gold, the most popular and traded type in Egypt, reaching 7,500 Egyptian pounds. This significant increase comes amidst continued volatility in global gold prices, directly impacting the local market and creating a state of anticipation among both investors and consumers.
Gold price list today in Egypt
Here are the details of gold prices for different carats in Thursday evening trading:
- The price of a gram of 24-karat gold: recorded 8571.5 Egyptian pounds for selling, and 8514.25 Egyptian pounds for buying.
- The price of a gram of 22-karat gold: It reached 7857.25 Egyptian pounds for selling, and 7804.75 Egyptian pounds for buying.
- The price of a gram of 21-karat gold reached 7500 Egyptian pounds for selling and 7450 Egyptian pounds for buying.
- The price of a gram of 18-karat gold: recorded 6428.5 Egyptian pounds for selling, and 6385.75 Egyptian pounds for buying.
- The price of a gram of 14-karat gold reached 5000 Egyptian pounds for selling and 4966.75 Egyptian pounds for buying.
- The price of a gold pound: It reached 60,000 pounds for selling, and 59,600 pounds for buying.
General context and historical background of gold fluctuations
Historically, gold has been considered the primary safe haven for investors worldwide during times of economic crisis and geopolitical tension. Its global price is influenced by several key factors, most notably the US dollar exchange rate, with which gold has an inverse relationship; the stronger the dollar, the lower the price of gold, and vice versa. Interest rate decisions by major central banks, particularly the US Federal Reserve, also play a pivotal role in determining the precious metal's price trends. In Egypt, the price of gold is directly affected by the global price per ounce, the exchange rate of the Egyptian pound against the dollar, and supply and demand factors within the local market.
The importance of the event and its expected impact
The record-breaking price of 21-karat gold has far-reaching economic and social repercussions in Egypt. Socially, gold is an integral part of Egyptian culture, particularly in wedding traditions (the dowry), and this dramatic increase could place significant pressure on young people preparing for marriage. Economically, this surge reflects anxiety among savers who turn to gold as a hedge against the erosion of the local currency's value and rising inflation. This rise is expected to further encourage investors to purchase gold as a safe haven, potentially increasing market demand. Regionally and internationally, the stability of Egypt's gold market is seen as an indicator of economic health, and any sharp fluctuations like this could attract the attention of international investors and financial institutions.
