A member of the Gold Division of the Egyptian Chambers of Commerce Sameh Abdel-Hakim on Monday explained the reasons behind the current rise in gold prices in the Egyptian market. He pointed out that periods of high demand sometimes exceed supply in the markets, which is one of the main factors behind the continued rise in gold prices. Abdel-Hakim added that the increased demand for gold bullion has led to a decline in demand for gold jewelry. Strong upward surges are commonHe noted that consumers previously preferred jewelry before the rise of bullion investment following the COVID-19 pandemic. Abdel-Hakim noted that any movement in the global price of gold, even a $10 increase per ounce, is directly reflected in prices in the Egyptian market.

Source: Egypt Independent February 10, 2026 08:42 UTC