In Egypt, the price of 21-karat gold, the most commonly traded in the local market, has jumped from EGP 3,720 to EGP 4,280 per gram, marking an increase of EGP 560, or 15.02% since January.
Ihab Wassef, Chairman of the Gold and Precious Metals Division at the Federation of Egyptian Industries, announced a significant rise in gold prices both locally and internationally since the beginning of 2025.
In Egypt, the price of 21-karat gold, the most commonly traded in the local market, has jumped from EGP 3,720 to EGP 4,280 per gram, marking an increase of EGP 560, or 15.02% since January.
According to Wassef, this sharp uptick is part of a broader global rally in gold prices, fueled by a range of economic and political factors.
Chief among them are ongoing trade tensions, particularly the escalating trade war led by U.S. President Donald Trump against key American trading partners, as well as rising geopolitical conflicts in various parts of the world.
On the global level, Wassef noted that gold prices have climbed 15.2% since the beginning of the year.
The price per ounce has remained above the $3,000 mark, recording a 5.9% increase since the start of March alone.
Looking ahead, the Gold Division Chairman expects gold prices to continue rising, potentially reaching $3,200 per ounce within the next six months, based on expert analyses and forecasts from leading international financial institutions.
Wassef added that looser monetary policy from major central banks — such as the U.S. Federal Reserve and the European Central Bank — is playing a critical role in supporting gold prices.
Lower interest rates have reduced the cost of holding gold, prompting more investors to increase their gold purchases.
He also highlighted the growing trend of central banks worldwide increasing their gold reserves, as they aim to diversify their portfolios and reduce reliance on foreign currencies amid ongoing global economic uncertainty.
Wassef emphasized that a combination of geopolitical instability, trade tensions, and accommodative monetary policy continues to boost gold’s appeal as a reliable store of value. As these trends persist, he anticipates the upward momentum in gold prices to continue in the coming period, especially amid ongoing global uncertainty.
