In Egypt, traders and industry officials report a notable surge in the demand for gold bars and coins as buyers look for stable investments amid market fluctuations and economic instability. In Cairo's gold market, jeweler Mohamed Abidin stated that small bar purchases have increased dramatically, with reports of some sellers moving as much as four kilograms of gold bars in a single day, compared to previous weeks where sales were much lower. This rise in demand highlights a shift in consumer sentiment as more people seek out tangible assets in an uncertain economic climate.

Abidin noted that gold bars and coins have been available in the market for decades, allowing customers to instantly receive their purchases upon visiting a store. The drastic increase in sales reflects a broader trend where individuals prefer gold as a more reliable store of value over jewelry, which may come with additional manufacturing costs. Buyer Hussein Mustafa mentioned that he opts for bars due to their lower manufacturing costs and higher value retention compared to typical jewelry items.

Globally, the price of gold has surpassed $5,100 per ounce as of late January, continuing its upward trajectory driven by investor demand for safe-haven assets amid rising geopolitical tensions. This context underscores not only the local demand fluctuations in Egypt but also aligns with global market trends that suggest a robust interest in gold investment, driven in large part by external economic pressures and uncertainties, positioning gold as a crucial asset in times of crisis.