Thursday 29/January/2026 – 11:08 PM
I witnessed Gold prices Globally and locally, there was a noticeable decline at the end of today’s trading, after a record rise that pushed the yellow metal to unprecedented historical levels during the last period, supported by increasing geopolitical tensions and inflation fears, as this decline came in light of some investors’ tendency to take profits, in addition to a relative improvement in the performance of the US dollar and the rise in bond yields, which reduced the attractiveness of gold as a safe haven.
Locally, the global decline was reflected in gold prices in Egyptian markets, amid a state of anticipation among traders for the possibilities of continuing price correction during the coming period, especially with the decline in demand after the recent sharp rises.
Gold prices today in Egypt
Today’s gold prices in Egypt were recorded as follows:
- Price of a gram of 24 karat gold: 8,400 pounds.
- The price of a gram of 21 carat gold: 7,350 pounds.
- The price of a gram of 18 karat gold: 6222 pounds.
- The price of the gold pound: 5,800 pounds.
- Global price of an ounce of gold: $5,405.
Hani Milad, Head of the Gold Division at the Cairo Chamber of Commerce, said that the recent rise in… Gold prices It was expected, but the rapid pace of the increase is what is causing concern in the markets, confirming that since the beginning of this year, gold has recorded an increase of close to 22%, which is an unprecedented rate within a short period of time.
Head of the Gold Division: The rise is expected, but the speed of the current jump raises concern
Milad explained, during television statements, that the record jumps in gold prices are mainly due to geopolitical turmoil and global economic tensions, which prompted investors to turn towards gold as a safe haven, noting that the local market is affected by the same rates of rise witnessed by the global market.
The head of the Gold Division confirmed that the large demand for buying bullion during the past days reflects a state of uncertainty and the exit from saving tools linked to the dollar, pointing out that gold remains a safe savings tool provided that it is treated as a long-term investment, and not for the purpose of quick speculation or achieving immediate gains.
For his part, Amir Rizk, a gold jewelry expert, said: There is a noticeable increase in the demand for gold bullion during the current period, driven by global geopolitical tensions, stressing that any slight development in relations between countries is immediately reflected in the rise in global gold prices.
Significant increase in buying demand for small and medium bullion
Rizk added, in a statement to Cairo 24, that stabilizing US interest rates has strengthened gold’s strength as a safe haven, especially with the presence of significant purchasing power for gold outside Egypt, which supports the continued rise.
The gold jewelry expert pointed out that recent days have witnessed a significant increase in demand for purchases in the Egyptian market, especially for small and medium bullion weights such as 2.5, 5, 10, and 20 grams, as they are most suitable for saving.
