Egypt”s Gold Market Tracks Global Recovery as 21-Karat Prices Reach EGP 6,235
Gold prices in the Egyptian market stood at EGP 6,235 per gram for 21-karat gold on Thursday, November 5, 2026, as local traders followed a strong rebound in international bullion prices.
Other gold categories also recorded notable levels, with 24-karat gold priced at EGP 7,126 per gram and 18-karat gold at EGP 5,344. The gold pound reached EGP 49,880, excluding workmanship, stamp duty and tax charges.
Gold Price Breakdown
The latest listed prices in Egypt were:
- 24-karat: EGP 7,126 per gram.
- 21-karat: EGP 6,235 per gram.
- 18-karat: EGP 5,344 per gram.
- Gold pound: EGP 49,880.
International Bullion Rises Above $4,000
The international gold market gained around 3% during the previous day's session, pushing prices back above $4,000 per ounce. The move coincided with a decline in the US dollar to its weakest level in approximately one month.
The dollar's retreat followed the US midterm election results, which saw Democrats win a majority of congressional seats. The outcome prompted renewed market assessments of the country's expected fiscal and monetary policy direction.
Economic Factors Behind Gold's Recovery
Expectations surrounding government spending, inflation and US interest rates remain important factors shaping gold market sentiment. Potential spending constraints could limit liquidity flows and ease inflationary pressures, potentially reducing expectations of tighter monetary policy.
The weaker dollar has provided additional support, as it makes gold relatively more attractive to investors using other currencies. Lower expectations for interest rate increases also make holding the non-yielding precious metal less costly compared with interest-bearing assets.
Oil market movements have also contributed to the broader picture. Crude oil prices declined but remained above $105 per barrel, while diplomatic efforts continued to secure an agreement between Washington and Tehran to end the war.
The developments have raised expectations of easing energy-related inflationary pressures, although uncertainty over the conflict's future remains.