Gold Prices Dip Slightly as Dollar Remains Stable in Egypt
Gold prices in Egypt slightly declined; 21-carat at 5,599.58 EGP. Dollar stable ahead of Central Bank's Dec 18 decision.
Today, the price of gold in Egypt has decreased slightly, with the price of 21-carat gold per gram at 5,599.58 Egyptian pounds, down 0.2% from yesterday, due to a slight drop in global prices and the stability of the dollar exchange rate. The price for 24-carat gold was 6,399.52 pounds per gram, with one ounce at 199,024.96 pounds, according to Gold Price Data. This decline reflects limited local demand amid high inflation (24% annually), but analysts at Gold Era expect a quick recovery if the Central Bank's decision on December 18 leads to an exchange rate adjustment, potentially pushing prices towards 6,500 pounds for 24-carat gold by the end of the month, supported by Gulf imports.
The dollar has maintained relative stability in the official Egyptian market today, with a buying price of 47.44 pounds and a selling price of 47.56 pounds in major banks such as Ahli and Misr, showing a slight increase of 0.02% from yesterday, according to Central Bank data and Economy Trading. In the parallel market, the price exceeded 47.78 pounds, with a slight gap of 0.2-0.3 pounds reflecting a shortage of hard currency despite remittance flows (36.5 billion dollars annually). Investors are awaiting the Monetary Policy Committee meeting on December 18, where a rate cut of 100-200 basis points is expected, which could lead to a partial float pushing the dollar towards 48-49 pounds, as warned by Pharos analysts, but an agreement with the IMF may limit the rise and attract external flows of up to 10 billion dollars.
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Edited & Reviewed by the Ecopulse Editorial Board 1/24/2026, 20:44:31 UTC
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