Ahmed Kamel – Egypt Daily News
Egypt’s gold market witnessed an unprecedented drop on Thursday, 5 February 2026, as prices continued to fall sharply following a period of recent gains. The price of 21-carat gold the most widely traded standard dropped by around 200 pounds in a single session and fell nearly 1,000 pounds compared to its recent peak of 7,550 pounds per gram.
The decline comes after a phase of accelerated increases in local gold prices, driven largely by global market fluctuations and the movement of the US dollar. Currently, the market shows relative stability, though traders and investors remain cautious amid ongoing global uncertainty.
21-Carat Gold Remains the Market Benchmark
21-carat gold continues to dominate transactions in Egypt, striking a balance between price and purity. It is also the standard used for most jewelry, especially for engagement and wedding occasions, making it a key reference for both buyers and sellers.
Gold Prices in Shops
According to the latest updates from local jewelry markets, gold prices in Egypt today are as follows:
- 24-carat: 7,485 EGP (sell), 7,405 EGP (buy)
- 22-carat: 6,860 EGP (sell), 6,790 EGP (buy)
- 21-carat: 6,550 EGP (sell), 6,480 EGP (buy)
- 18-carat: 5,615 EGP (sell), 5,555 EGP (buy)
- 14-carat: 4,365 EGP (sell), 4,320 EGP (buy)
- 12-carat: 3,745 EGP (sell), 3,705 EGP (buy)
Gold Coins and Ounces
Larger gold units also mirrored the downward trend:
- Gold pound: 52,400 EGP (sell), 51,840 EGP (buy)
- Gold ounce: 232,830 EGP (sell), 230,345 EGP (buy)
- Gold ounce in USD: $4,833.49
The gold pound remains popular among savers due to lower manufacturing costs and ease of trading, while the ounce is the key global benchmark, closely linked to international exchanges and the US dollar.
Market observers note that the recent slump reflects both local caution and global uncertainties, with many investors monitoring international trends to decide on buying or holding positions. Despite the fall, gold continues to be seen as a safe-haven investment and a hedge against inflation.
