Gold prices in Egypt fell 2.7 percent in May 2026 as the Egyptian pound strengthened and global markets weakened.
The price of 21-karat gold opened the month at 6,950 Egyptian pounds per gram and closed at 6,765 pounds, according to the Gold and Precious Metals Division at the Federation of Egyptian Industries. Division Chairperson Ehab Wassef said international gold prices dropped more than 2 percent while the pound gained 2.5 percent against the dollar.
The exchange rate moved from 53.57 pounds per dollar at the start of May to 52.23 pounds by the end of the month. Wassef attributed the changes to improved foreign currency inflows and greater confidence in the pound.
Global investors withdrew 1.1 billion dollars from gold exchange-traded funds in the week ending May 22. Easing geopolitical tensions also reduced demand for safe-haven assets.