Expert Foresees Gold Surging to 8,000 EGP by Mid-2027

Fadi Kamel, a gold market expert, predicted that the price of 21-karat gold per gram would reach around 8,000 EGP during the first half of 2027. He noted that the continuation of current economic factors could push prices to record new peak levels in the coming period.

Kamel explained, in exclusive statements, that gold price movements in the Egyptian market do not depend on a single factor. Instead, they are governed by three main variables: the price of an ounce on global exchanges, the exchange rate of the Egyptian pound against foreign currencies, and the volume of supply and demand within the local market.

He added that many market participants link price changes solely to local supply and demand in Egypt. However, reality confirms that the local market is part of a global system affected by inflation, interest rates, and central bank policies, as well as exchange rate fluctuations. This explains why gold prices vary from one country to another, where it may sell at a premium in some markets while trading at discounts in others according to the nature of each market.

He pointed out that his projection of 21-karat gold reaching around 8,000 EGP is based on the combined ongoing impact of these variables rather than an isolated factor, emphasizing that any change in global ounce prices or the EGP exchange rate directly reflects on the local market.

Kamel stressed that gold remains one of the most capable assets for preserving value during times of economic instability. He explained that wealth building through gold does not depend on market timing, but rather on regular savings and holding the metal for long periods as a means to protect the purchasing power of savings.

He called on investors to monitor global economic variables rather than focusing solely on daily local price movements, emphasizing that understanding the factors affecting the gold market helps in making more accurate decisions, whether for saving or investment.