Gold Prices Surge in Egypt Following Surprise 2% Interest Rate Cut: Check the Latest Karat Costs

In a surprising move, the Central Bank of Egypt decided to decrease the overnight deposit rate to 22% during its policy meeting on August 28, 2025. This decision had an immediate impact on the gold market in Egypt, leading to a significant increase in prices. Local buyers rushed to purchase gold as a safe haven asset, driving up demand across the country. The sudden surge in gold prices caught many by surprise and sparked discussions about the implications for the Egyptian economy. With gold being a popular investment choice in the region, the price hike is expected to have far-reaching effects.