• Home
• News

Gold prices in Egypt recorded elevated levels during Thursday’s trading, October 22, 2026, as movements in the US dollar and global bullion prices continued to influence the domestic market.

The price of 24-karat gold reached EGP 7,200 per gram, while the US dollar traded above EGP 54 against the Egyptian pound. Globally, gold was trading at around $4,130 per ounce.

With a purity level of approximately 99.9%, 24-karat gold is the highest-purity grade commonly traded in the market. Its local price is influenced by global gold movements, the dollar exchange rate, and domestic supply and demand conditions.

Gold Prices in Egypt on Thursday

The price of 24-karat gold stood at EGP 7,200 per gram, while 21-karat gold recorded EGP 6,300.

The price of 18-karat gold reached EGP 5,400 per gram, while 14-karat gold stood at EGP 4,200.

Meanwhile, the gold pound was priced at EGP 50,400.

Global Gold Forecasts Revised

Several major investment banks have revised their gold price targets for the final quarter of 2026.

CIBC lowered its gold forecast to $4,500 per ounce from a previous target of $6,500. JPMorgan also set its target at $4,500, while UBS projected $4,600 per ounce and Goldman Sachs forecast $4,650.

Gold prices remain sensitive to movements in the US dollar and interest rates, which can affect the precious metal’s attractiveness to investors.

Exchange Rate Remains Key Factor for Egypt’s Gold Market

In Egypt, changes in the dollar exchange rate directly affect the local cost of gold. However, currency movements are not the only factor determining domestic prices, as international bullion prices and local supply and demand also play significant roles.

Looking ahead to 2027, the cited forecasts place gold prices between $5,000 and $5,400 per ounce, with an average estimate of around $5,200.

Continued gold purchases by central banks and investment flows into gold funds could provide further support for demand.

These projections remain subject to change depending on inflation trends, US monetary policy and movements in the dollar, making both global bullion prices and exchange rates important indicators for the direction of Egypt’s gold market.