Gold prices in Egypt saw a notable rise on Monday, April 7, 2025, influenced by a mix of local and global market dynamics. The price of 24-carat gold in Egypt reached approximately 5,028 Egyptian pounds per gram, while 21-carat gold was priced at 4,400 pounds per gram. Other variations included 18-carat gold at 3,771 pounds per gram, and 14-carat gold at 2,933 pounds per gram. The price of a gold pound also increased to 35,200 pounds, making it a popular choice for investors and small savers.
This surge in gold prices reflects broader global economic trends, as the price of gold worldwide had fallen by 2.47%, settling around 3,038 dollars per ounce. Several factors contribute to these fluctuations, including global market movements, the exchange rate of the Egyptian pound against the dollar, and local demand driven by social events.
Latif Mounib, Vice President of the Gold and Jewelry Division of the Federation of Chambers of Commerce, noted that the recent rise in prices was partly due to an increase in the global price of gold and changes in the local dollar exchange rate. “The price of 21-carat gold ranged last Friday between 4,340 and 4,350 pounds, but the surge in the local dollar price led to an increase of about 50 pounds per gram,” Mounib explained, highlighting the sensitivity of gold prices to currency fluctuations.
In the UAE, gold prices also remained stable, with 24-carat gold priced at 366.25 dirhams per gram and 21-carat gold at 325 dirhams per gram. The price of a gold pound was noted at 2,600 dirhams, reflecting similar patterns to Egypt.
Gold is increasingly being viewed as a safe haven during times of economic uncertainty, leading to heightened demand. Analysts have observed that in Egypt, there is a growing interest in lower carat options, such as 18 and 14-carat gold, as consumers look for more affordable ways to invest. Additionally, there has been a noticeable shift towards purchasing gold bars and raw gold, rather than traditional jewelry, reflecting a preference for protecting financial assets in an inflationary environment.
As gold prices remain volatile, factors such as global inflation, interest rates, and currency fluctuations will play a crucial role in shaping future trends. The evolving demand for gold highlights its importance as a tool for financial preservation in uncertain times, making it vital for both traders and consumers to stay informed about market movements.
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