Dollar Above EGP 55 Cushions Egypt’s Gold Prices Against Global Slide

Gold prices in Egypt edged lower during trading on Friday, October 23, 2026, despite a sharp fall in international bullion prices, as a stronger US dollar softened the impact on the local market.

The dollar’s exchange rate above EGP 55 helped support domestic gold prices, including 21-karat gold, limiting the decline compared with the drop in the global price per ounce.

Gold is priced internationally in dollars, so a rise in the US currency against the Egyptian pound increases its local-currency cost. That can offset some of the pressure from falling global prices.

Friday’s trading reflected those opposing forces, with the international sell-off pushing prices down while the exchange rate provided a cushion for Egypt’s gold market.