Gold Prices in Egypt Hit All-Time High at EGP 5,000 per Gram

Egypt’s gold market has hit a historic milestone, with 24K gold surpassing 5,000 EGP per gram for the first time ever. This surge comes in response to the US Federal Reserve’s decision to hold interest rates steady, driving investors toward gold as a safe-haven asset amid ongoing economic and geopolitical uncertainty.

Since early March, gold prices in Egypt have climbed approximately 6.7%, with 21K gold rising from 4,050 EGP to 4,320 EGP per gram. Year-to-date, prices have surged nearly 15.7%, jumping from 3,735 EGP per gram on January 1st, 2024, to current levels. On a global scale, gold has soared 17% since the start of the year, reaching USD 3,085 per ounce.