Gold prices in Egypt declined during Wednesday’s trading on October 21, 2026, with the gram of 21-karat gold, the most widely traded, reaching 6,300 Egyptian pounds after falling by 25 pounds, a drop of 0.40% compared to yesterday’s highest level.
Gold Prices in Egypt Today
- 24-karat gold: 7,200 EGP
- 21-karat gold: 6,300 EGP
- 18-karat gold: 5,400 EGP
- 14-karat gold: 4,200 EGP
- Gold pound (coin): 50,400 EGP
The local decline coincided with the global ounce trading near $4,120, down about 26.4% from its peak of $5,595.46 recorded in January.
The drop came amid pressure linked to rising real yields and a stronger dollar, along with concerns over continued US inflation and higher oil prices, factors that could push the Federal Reserve to keep interest rates elevated for a longer period.
Local Price vs.
Fair Value.
Eng.
Saeed Embabi, Executive Director of the iSagha platform, said the local price of 21-karat gold is now about 38.73 EGP per gram below its theoretical value, compared to a gap of 31.24 EGP the previous day, reflecting a widening of the pricing discount of roughly 7.49 EGP.
He explained that the gap between the local price and the theoretical value calculated according to the ounce price and the dollar exchange rate does not necessarily mean prices will rise in the future, stressing the importance of monitoring global gold movements, the dollar, and local prices together.
Gold Price Forecasts
Globally, major investment banks cut their gold targets for 2026.
CIBC reduced its fourth-quarter forecast from $6,500 to $4,500 per ounce, while JPMorgan lowered its target to $4,500, UBS to $4,600, and Goldman Sachs to $4,650.
Despite these cuts, gold forecasts for 2027 range between $5,000 and $5,400 per ounce, with an average of about $5,200, supported by continued central bank purchases and gold fund inflows.
These targets remain estimates tied to inflation developments, interest rates, and the dollar, and do not guarantee price direction.
Gold movements in the coming period are likely to remain hostage to US economic data and the path of monetary policy.
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