24K Gold Closes at EGP 8,000 on Monday

Gold prices rose in both local markets and global exchanges at the close of Monday’s trading, supported by renewed uncertainty over U.S. trade policy and escalating tensions between the United States and Iran, boosting demand for the precious metal as a safe-haven asset, according to a report by the I Sagha platform.

Saeed Embabi, Executive Director of Ai Sagha, said local gold prices increased by approximately EGP 75, with the price of one gram reaching EGP 7,000. Meanwhile, the global ounce gained around $100 to record $5,208.

The price of 24-karat gold reached approximately EGP 8,000 per gram, while 18-karat gold stood at around EGP 6,000. The gold pound coin was priced at nearly EGP 56,000.

During the previous week, local gold prices climbed by EGP 215, as 21-karat gold opened trading at EGP 6,710 and closed at EGP 6,925. Globally, the ounce rose by about $65, from $5,043 to $5,108 by the end of the week.

Trade Policy Developments Renew Market Volatility

Gold’s latest gains followed a ruling by the U.S. Supreme Court limiting President Donald Trump’s use of the International Emergency Economic Powers Act to impose sweeping and reciprocal tariffs.

In response, the administration activated Section 122 of the Trade Act of 1974, announcing temporary flat tariffs of 10% on imports from all countries, later raising them to 15%. The measures are set to take effect on February 24 and may remain in place for up to 150 days without congressional approval.

The move revived uncertainty in global trade and raised concerns over the credibility of U.S. fiscal policy, prompting investors to diversify into gold while reducing exposure to U.S. assets.

Geopolitical Tensions Support Safe-Haven Demand

Uncertainty surrounding nuclear negotiations between Washington and Tehran continues to keep markets on edge, amid fears of potential military escalation in the Middle East. Talks are scheduled to resume in Geneva on Thursday.

Iran has indicated willingness to offer concessions regarding its nuclear program in exchange for sanctions relief and recognition of its right to enrich uranium, aiming to avoid further escalation.

These developments have kept geopolitical risk premiums elevated, helping gold extend its recovery. Stronger momentum may emerge as Chinese markets return from the Lunar New Year holiday.

Key U.S. Economic Data in Focus

This week’s U.S. economic calendar is relatively light, leaving gold highly sensitive to trade and geopolitical headlines.

Key data releases include ADP employment figures, the Conference Board’s consumer confidence index, President Donald Trump’s State of the Union address, weekly jobless claims, and January’s Producer Price Index.

Last week’s data showed slower GDP growth alongside rising inflation in personal consumption expenditures, reinforcing expectations that the Federal Reserve will remain cautious before resuming interest rate cuts. However, traders still anticipate cumulative rate cuts of around 50 basis points by year-end, which could provide longer-term support for gold.

Lebanon Weighs Options on Gold Reserves

In a related development, the Financial Times reported that politicians and bankers in Lebanon are considering selling or leasing part of the central bank’s substantial gold reserves to help address the country’s ongoing economic and financial crisis.

Lebanon’s central bank holds approximately 280 tonnes of gold, making it the second-largest gold reserve holder in the region after Saudi Arabia. However, the proposal remains controversial domestically, with concerns that such a move could benefit a limited group rather than the broader population.