Gold Prices Climb in Egypt as Arab Markets Favor Bars Over Jewelry

On July 12, 2026, Egypt’s gold price rose, with 21‑karat gold reaching 5,895 Egyptian pounds per gram and 24‑karat hitting 6,737 pounds. The modest increase was attributed to a stronger Egyptian pound offsetting global price pressures, according to the i‑Saghah platform.

The same day, Egyptian bullion dealers listed bar prices at 6,873 pounds for 1 g (24 K), 33,865 pounds for 5 g, 67,700 pounds for 10 g, 135,360 pounds for 20 g, 338,250 pounds for 50 g, and 676,300 pounds for 100 g, reflecting broad gains across all sizes.

In the first quarter of 2026, the combined gold purchases of Saudi Arabia, the United Arab Emirates, Egypt and Kuwait totaled about 41 tonnes, according to the World Gold Council. Saudi Arabia led with 17.80 tonnes (12.70 t jewelry, 5.10 t bars/coins). Egypt bought 10.86 tonnes, the only market where bar and coin purchases (5.70 t) exceeded jewelry (5.16 t). The UAE and Kuwait accounted for 8.72 t and 3.62 t respectively. Total purchases fell 8.8% from the same period in 2025, driven by a 22% drop in jewelry demand, while bar and coin demand grew 21.3% year‑on‑year.