Gold Prices Rise Locally Amid Dollar Surge and Geopolitical Tensions

Sunday 8 March 2026 11:44

Gold prices in the local market rose during Sunday’s trading, driven by a stronger U.S. dollar, despite the weekly closure of local markets and the global stock exchange. The increase also comes amid escalating geopolitical tensions in the Middle East and the ongoing conflict between the United States and Israel on one side and Iran on the other, according to a report by the iSgha platform.

Eng. Saeed Embabi, CEO of the platform, stated that gold prices in the local market increased by approximately EGP 300 during Sunday’s session. As a result, the price of a gram of 21-karat gold reached EGP 7,550, despite the market closures.

He added that a gram of 24-karat gold was priced at EGP 8,629, while 18-karat gold reached EGP 6,472. Additionally, the price of a gold pound amounted to EGP 60,400.