Egypt gold market
Egypt quotes gold per gram in pounds, broken down by karat — 24K, 22K, 21K and 18K — with 21-karat the national standard for jewellery. The "gold pound" coin (genieh), an 8-gram 21-karat piece, is the classic Egyptian savings product, alongside small bars. Prices are published continuously by dealers and platforms such as iSagha and Dahab Masr, with separate buy and sell quotes.
Local pricing follows three forces: the international ounce, the EGP/USD exchange rate, and domestic supply and demand. Egypt has seen periods where local prices traded at a premium to global levels during dollar shortages, and at times parallel pricing appeared in shops during market turmoil — so comparing the official quote with the day's exchange rate matters.
Khan El Khalili in Cairo is the historic jewellery quarter, but gold shops operate in every city. Jewellery carries workmanship charges on top of the metal rate, and 21-karat wedding sets remain the core of retail demand.
Dealer platforms publish separate buy and sell quotes through the day, and the spread between them is the practical cost of trading. Khan El Khalili in Cairo is the historic jewellery quarter, though gold shops operate in every Egyptian city and workmanship charges are negotiated per piece on top of the metal rate.
Taxes and rules
Egypt's standard VAT rate is 14 percent, and gold and silver ore is on the VAT-exempt list — but how VAT lands on finished jewellery at the counter has varied over time, with shop quotes typically bundling taxes into the per-gram price. Customs treatment of gold has also shifted: the government has at times temporarily exempted travellers' gold imports from customs duties (excluding VAT) to stabilise supply, then reinstated tariffs — personal ornaments are generally treated separately from commercial quantities.
Separately, Egypt's Financial Regulatory Authority has barred consumer-finance companies from financing gold purchases, treating gold as an investment instrument rather than a consumer good. Given the moving parts, verify current Egyptian Tax Authority and customs rules before large transactions or travel with gold.
For zakat calculators
Egyptian gold is quoted per gram, so zakat maths is direct: the gold nisab is 87.48 grams at the current per-gram rate for your karat. With 21-karat jewellery widely held by Egyptian families, converting grams to pounds and adding cash gives the zakatable base. Many use the lower silver nisab (612.36 grams) for mixed wealth — a calculator that checks both thresholds gives the fuller picture.
Try our free zakat calculator with live prices and automatic nisab check. Farmers: also see our ushr calculator.
Frequently asked questions
What karat is standard for gold jewellery in Egypt?
21-karat is the national standard for jewellery in Egypt. 24-karat is the purity benchmark for pricing, 18-karat is common for lighter pieces, and the 8-gram 21-karat gold pound coin is the traditional savings product.
What is the gold pound (genieh)?
An 8-gram 21-karat gold coin, long used in Egypt as a store of value and gift. Its price tracks the 21-karat per-gram rate multiplied by eight, plus a small premium.
Why do Egyptian gold prices sometimes differ from global prices?
Local prices combine the international ounce with the EGP/USD rate and domestic supply conditions. During dollar shortages or market stress, local premiums or parallel pricing have appeared — always compare the shop quote against the day's official rate.
Is there VAT on gold jewellery in Egypt?
Egypt's standard VAT rate is 14 percent, with gold and silver ore exempt — but the treatment of finished jewellery at retail has varied, and quotes usually bundle taxes into the per-gram price. Verify current Egyptian Tax Authority rules, as the framework has changed over time.
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