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Gold markets in Egypt and Sudan show divergent trends amid currency shifts
Gold markets in Egypt and Sudan are experiencing divergent trends driven by local currency fluctuations. In Egypt, gold prices have shown relative stability or slight declines toward the end of August 2026. The 21-karat gold price, a market standard, has been recorded at approximately 6,320 to 6,330 EGP, while the gold pound remains around 50,600 EGP. Despite these local fluctuations, the Egyptian market remains attentive to global ounce prices, which have recently hovered around 4,456 USD.
In contrast, Sudan is facing a severe economic crisis characterized by a sharp depreciation of the Sudanese pound, which has fallen to 6,500 against the US dollar. This currency instability has caused local gold prices to surge to record highs, reaching 815,000 Sudanese pounds per gram. According to the Secretary-General of the Gold Exporters Division, this local price spike is primarily driven by the rising cost of foreign currency in the parallel market rather than direct movements in the global gold exchange.
Entities
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] Rising foreign currency prices in the parallel market drove gold prices up in Sudan, despite falling global prices. sudantribune.net
- [● 3 SOURCES] The gold pound in Egypt stabilized at approximately 50,560 to 50,640 EGP. www.elaosboa.com · www.almashhad.news · www.elbalad.news
- [● 3 SOURCES] In Egypt, the 21-karat gold price was recorded at approximately 6,320 to 6,330 EGP. www.elaosboa.com · www.almashhad.news · www.elbalad.news
- [● 3 SOURCES] The global price of gold per ounce was recorded at approximately 4,456 USD. www.elaosboa.com · www.almashhad.news · www.elbalad.news
- [○ 1 SOURCE] The Sudanese pound depreciated to 6,500 against the US dollar. sudantribune.net
- [○ 1 SOURCE] The price of one gram of raw gold in Sudan reached a record 815,000 Sudanese pounds. sudantribune.net