Gold prices in Egypt have risen significantly, with 21-karat gold nearing 7,000 Egyptian pounds amidst a decline in the dollar and geopolitical tensions.
On February 23, 2026, gold prices in Egypt reached their highest levels in over three weeks, primarily due to a drop in the value of the dollar following the U.S. Supreme Court's recent decision to roll back part of the tariffs imposed by former President Donald Trump. This rise in gold prices coincided with increasing geopolitical tensions between the United States and Iran, further bolstering the precious metal's value.
In the wake of these developments, the price of 21-karat gold, which is the most widely traded gold in Egypt, skyrocketed to 6,950 Egyptian pounds per gram. Additionally, the price of 24-karat gold was reported at 7,943 pounds, while 18-karat gold reached 5,957 pounds. For those interested in purchasing gold coins, the price of a gold pound was noted at 55,600 Egyptian pounds, reflecting a substantial increase in gold's market demand.
The surge in gold prices can be linked to broader economic trends and domestic factors affecting the Egyptian market. As gold often serves as a hedge against inflation and currency fluctuations, the current economic context provides insight into the increasing allure of gold for investors in Egypt. The rising costs could also influence consumer behavior, with citizens possibly looking to purchase gold as a store of value amidst uncertain economic conditions.
