Gold Prices in Egypt Soar, Reaching 3050 EGP per Gram

In a significant development, the price per gram of gold in Egypt reached 3050 Egyptian pounds on Sunday, December 24, 2023. This indicates a notable shift in the market value of gold in the country, which is a vital metric for investors, consumers, and economists alike.

Gold Price in Egypt: An Overview

The current price for 21K gold in Egypt stands at 1,781.59 EGP per Gram, whereas the price for 22K gold is 1,866.43 EGP per Gram. The highest gold price recorded today was $2,052.99, matching the lowest price, suggesting a stable market. Notably, the gold prices in the global exchange rose 1.6%, supported by a decline in the dollar, which has recorded its lowest levels in nearly five months.

Price Fluctuation and Market Dynamics

According to Saeed Imbaby, executive director of the ‘iSagha’ platform for gold and jewelry online trading, gold prices increased by EGP 15 in the local markets during today’s trading. He detailed that a gram of 24 karat gold recorded EGP 3480, a gram of 18 karat gold recorded about EGP 2610, a gram of 14 karat gold recorded about EGP 2030, and a pound of gold recorded about EGP 24360.