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 Domestic gold prices in Egypt recorded a notable retreat at the opening of trading on Wednesday, September 2, 2026, tracking a sharp slide across international bullion markets.

Global spot gold dropped to its lowest level in more than three weeks during Wednesday morning trade, weighed down by climbing crude oil prices and escalating Middle East tensions. The commodity spike has amplified investor concerns over persistent inflation and potential interest rate hikes, ahead of key US nonfarm payrolls data scheduled for later this week.

Domestic Rates in Egypt (Excluding Workmanship Fees)

According to pricing data compiled by local market platform "iSagha," average trading prices across key karats stood as follows:

Item / KaratSell Price (EGP)Buy Price (EGP)

24-Karat Gold (per gram)7,1037,046

21-Karat Gold (per gram)6,2156,165

18-Karat Gold (per gram)5,3275,284

Gold Pound (8 grams, 21K)49,72049,320

Note: Final consumer prices across local jewelry markets vary depending on workmanship fees (masnaheya) and regional retailer markups.

Global Market Pressures

Spot Gold: Fell 0.6% to $4,302.99 per ounce by 04:25 GMT, marking its lowest level since August 7 and on pace for its fourth consecutive session of declines. The metal also remained below its closely watched 200-day moving average.

US Futures: Gold futures for December delivery slid 1.1% to $4,349.90 per ounce.

Currency Headwinds: Continued strength in the US Dollar Index added further pressure on non-yielding bullion by raising acquisition costs for holders of other currencies.