Gold pound holds near record highs in Egypt as Fed pauses, safe-haven demand lifts bullion

CAIRO - 29 JANUARY 2026: Egypt’s gold pound price held steady near record highs on Thursday, January 29, 2026, as global bullion remained supported by the U.S. Federal Reserve’s decision to keep interest rates unchanged and by rising demand for safe-haven assets amid heightened geopolitical and political uncertainty.

Local market pricing put the gold pound at LE56,600, with 21-carat gold at LE7,075 per gram, according to figures carried by Egyptian media.

The Federal Reserve held its benchmark rate within the 3.5% to 3.75% range at its first policy meeting of 2026, a move that aligned with market expectations and helped keep pressure on gold contained as traders recalibrated their outlook for the path of U.S. monetary policy.

Globally, gold has been on a sharp rally, trading near $5,600 an ounce as investors piled into safe havens, supported by strong central bank buying and a weaker dollar, Reuters reported.

In Egypt, the latest prices were reported as:

24-carat: EGP 8,086 per gram

21-carat: EGP 7,075 per gram

18-carat: EGP 6,064 per gram

Gold pound: EGP 56,600