Egypt is moving toward the establishment of a high-level government committee to oversee and regulate the gold market, as part of a strategic effort to organize trading activity, enhance market oversight, and control pricing mechanisms amid record-breaking gold prices both locally and globally.
A decision is expected to be issued by the Prime Minister to form the committee, which will be chaired by the Prime Minister and include several ministers and senior officials responsible for monetary, financial, industrial, and commercial policies—reflecting gold’s growing strategic importance within the Egyptian economy.
A Comprehensive Government Structure
The committee’s proposed membership includes the Minister of Industry and Transport, the Minister of Petroleum and Mineral Resources, the Minister of Finance, the Minister of Investment, the Minister of Supply, and the Minister of Planning, in addition to the Governor of the Central Bank of Egypt, the Chairman of the Financial Regulatory Authority, and the Head of the Egyptian Competition Authority. This broad representation is intended to ensure full coordination among all relevant state entities.
The committee aims to establish a unified institutional framework for managing the gold market, closely monitor price movements, enhance transparency, curb unregulated practices, and strike a balance between market efficiency and consumer protection, while supporting local manufacturing and increasing value-added production of gold jewelry and products.
Market Volatility Drives Regulatory Action
This initiative comes at a time of heightened volatility in the gold market, with the price of 21-karat gold rising to around EGP 6,000 per gram, driven by strong gains in global prices, persistent inflationary pressures, currency depreciation, and growing demand for gold as a safe-haven asset. Over the course of 2025, gold prices recorded a notable increase of approximately 63%, reinforcing the need for a structured and effective regulatory framework.
A Broader Strategy from Mining to Trade
The committee’s mandate extends beyond domestic market regulation to form part of a broader national strategy aimed at increasing the mining sector’s contribution to GDP and positioning Egypt as a regional hub for gold production and trading. This strategy builds on recent successes in the mining sector, most notably the Sukari Gold Mine, the largest gold mine in the country.
According to informed sources, the committee will work to unify legislative and regulatory policies governing the gold sector, helping attract new investments, expand exploration activities, and maximize the economic return from Egypt’s gold resources.
Strong Performance Indicators in Mining
Gold production at the Sukari Mine recorded strong growth during the first half of 2025, rising by 9% to 246,000 ounces, compared with 225,000 ounces during the same period in 2024, according to official data. AngloGold Ashanti, the mine’s operator, attributed the increase to improved ore quality and higher recovery rates, reflecting greater operational efficiency.
In parallel, Egypt has strengthened its position on the global gold map by operating its first internationally accredited gold refinery, run by Sam Precious Metals Egypt. The refinery exported gold worth nearly $5 billion between 2024 and early 2025 to more than 143 countries.
Additionally, Minister of Petroleum and Mineral Resources Karim Badawi approved 53 decisions during the fourth quarter of 2025, including licenses for exploration and exploitation of various mineral resources, as part of an expanded plan to revitalize the mining sector.
Further supporting the industry, Shalateen Mineral Resources Company increased the volume of gold delivered to the Central Bank of Egypt by 29.45% in 2025, reaching 945 kilograms, driven by expanded exploration activity.
Egypt Moves Toward Becoming Africa’s Gold Hub
These developments coincide with the Central Bank of Egypt’s announcement in December 2025 of a memorandum of understanding with the African Export-Import Bank (Afreximbank) to establish a specialized African gold bank headquartered in Egypt. The initiative aims to support central bank reserves across the continent, reduce reliance on gold refining and trading centers outside Africa, and formalize gold production and trade within an integrated regulatory framework.
Market analysts believe the formation of the high-level government committee represents a pivotal step in managing Egypt’s gold sector and could pave the way for more efficient policies on pricing, imports, exports, and manufacturing—enhancing market stability and strengthening investor confidence both locally and internationally.
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