Gold trades globally in US dollars per troy ounce. Egypt imports that price. The local pound figure is therefore a product of two moving parts: the international XAU/USD quote and the USD/EGP exchange rate. Watching only one of them explains half the movement at best.
Take the international ounce price in dollars, divide by 31.1035 to get the dollar price per gram, then multiply by the USD/EGP rate to reach the Egyptian 24K gram price. Every other karat is that number multiplied by its purity ratio. This is why local prices can jump on a quiet global day: the pound moved, not the metal.
Egypt has periodically had a gap between the official bank rate and the parallel market rate. When that gap widens, gold shops price closer to the rate at which they can actually replace stock, so local gold can trade at a visible premium over the internationally implied price. Narrowing gaps compress that premium again.
EUR/EGP, GBP/EGP, SAR/EGP, AED/EGP and KWD/EGP matter to remittance-driven households: a large share of Egyptian gold buying is funded by transfers from the Gulf and Europe. If the pound weakens against the riyal or dirham, the same remittance buys more grams, which supports local demand even when dollar-denominated gold is flat.
The table shows live rates against the Egyptian pound, refreshed continuously. Use it alongside the gold pages: if the local price rises while the international ounce is unchanged, the exchange rate is doing the work.
Live prices load on this page when JavaScript is enabled.