Sunday 11/January/2026 – 09:30 AM
Ihab Wassef, Division Head, said gold And the Precious Metals Federation of Industries, said that global gold prices have continued their strong rise since the beginning of this year, driven by the increasing demand for the precious metal as a safe haven in light of the continuing economic pressures and geopolitical tensions globally.
Wassef explained, in the weekly report of the Gold and Precious Metals Division, that the price of an ounce of gold rose from $4,330 on January 1, 2026 to about $4,510 on January 11, 2026, achieving an increase of $180 per ounce, which represents an increase of approximately 4.16% in just 11 days.
Reducing interest rates in the United States during 2026
The head of the Gold Division pointed out that one of the most prominent reasons for this increase was the release of the US jobs report, which showed that fewer jobs were added than expected during the recent period, which strengthened the market’s expectations of a reduction in interest rates in the United States during 2026.
He added that this factor is considered positive for gold, as it increases its attractiveness as a safe haven and motivates investors to turn to the precious metal to protect their assets in light of expectations of a slowdown in American economic growth.
Wassef also added that this global rise was directly reflected in the local market in Egypt, where the price of a gram of 21 carat gold – the most widely traded – rose from 5,865 pounds to about 6,020 pounds during the same period, recording an increase of 155 pounds per gram, with a growth rate of about 2.64%.
Wassef stressed that the current pace of rise reflects a state of caution among investors and individuals, with the increasing trend towards gold as a tool for hedging and preserving value, pointing out that the continuation of global supportive factors may push prices to higher levels during the coming period, whether at the global or local level.
The head of the Gold Division stressed that the Egyptian market is closely linked to global changes, stressing the importance of following developments in international monetary policy and the performance of the dollar, as they are decisive factors in determining the path of gold prices during the next stage.
