Gold Division: Gold Could Surge to $4,200 an Ounce as Global and Geopolitical Risks Intensify

Hany Milad, Head of the Gold Division at the Federation of Egyptian Chambers of Commerce, said global gold prices remain on track for further gains, forecasting that the precious metal could break above $4,000 per ounce and potentially climb to $4,200, supported by persistent economic uncertainty and geopolitical tensions.

Milad said the recent increase in Egypt’s local gold prices has been driven by two key factors: the rally in international gold prices and the appreciation of the U.S. dollar against the Egyptian pound, both of which have directly influenced domestic gold pricing.

He noted that gold had previously retreated from its highs before resuming its upward trajectory, adding that current market indicators continue to support a bullish outlook for the precious metal.

The Head of the Gold Division at the Federation of Egyptian Chambers of Commerce explained that Egypt’s gold market is closely tied to global price movements. International gold prices are influenced by U.S. Federal Reserve policy decisions, global economic conditions, and geopolitical conflicts, while fluctuations in the U.S. dollar exchange rate against the Egyptian pound directly affect local gold prices.

He stressed that any change in the dollar exchange rate can lead to higher or lower gold prices in Egypt, even if global bullion prices remain unchanged. According to Milad, the recent strength of the U.S. dollar has reinforced the latest rally in the domestic market.

Commenting on the best time to buy, Milad said periods of lower prices should be viewed as attractive buying opportunities, particularly for long-term savers and investors. He emphasized that holding gold over an extended period remains the most effective strategy for preserving wealth and benefiting from future price appreciation.

Addressing consumers who purchased gold at higher price levels, Milad advised them not to sell at the current stage, expressing confidence that the current bullish cycle is likely to continue and that prices could return to — and even exceed — previous record highs as supportive market conditions remain in place.