Egypt gold price falls to around 5,900 Egyptian pounds per gram

On Sunday 2 August 2026, gold prices in Egyptian jewellery shops slipped to about 5,900 EGP per gram for the popular 21‑carat grade, with the 24‑carat price near 6,777 EGP and the 18‑carat price around 5,083 EGP. The decline follows a broader drop in the US dollar and comes as global spot gold remains above the $4,000 per ounce psychological barrier.

The United States Federal Reserve’s decision to keep interest rates steady has helped curb the dollar’s strength, supporting the recent price correction. Analysts at Texas Precious Metals, a US‑based precious‑metals firm, view the fall in gold and silver prices as a buying opportunity, citing continued central‑bank purchases and heightened geopolitical tension—particularly between the United States and Iran—as long‑term support for the metal.

Central banks worldwide are still adding to their gold reserves, a trend that the firm expects to sustain the upward trajectory of gold prices over the next two to three years despite short‑term volatility.