Egypt imported $2 billion worth of gold in four months
In search of new global investments in the strategic sector, and at a time when mining exploration is expanding into new areas and the Egyptian land is being surveyed for the first time in many years in search of treasures, Egypt’s Ministry of Petroleum and Mineral Resources dispatched a marketing and promotion team from the Egyptian General Authority for Mineral Wealth and Mining Industries to Perth, in Western Australia, one of the world’s largest and most renowned mining hubs.
Mervat Mostafa, head of the geological promotion mission, and her team held meetings with leaders at specialized universities, mining companies, and consulting and business organizations. They promoted opportunities in open-sector exploration for gold, phosphate, talc, and kaolin, invited the Australian mining community to participate in the upcoming “Egypt Mining Forum” scheduled for September, and announced the implementation of a training program for the Authority’s staff in Australia over the next two months.
On another front, a report issued by Gold Billion, an Egyptian platform focused on gold price movements in Egypt, revealed that despite global gold prices remaining under strong pressure after falling to their lowest levels in six weeks, with investors favoring the US dollar and high-yield assets, the local Egyptian market showed relative resilience. The price decline brought back a large segment of buyers to the gold market, including consumers wishing to purchase gold jewelry during the summer season and investors who took advantage of the dip to establish new buying positions.
The report added that Egypt’s gold imports rose to approximately $2 billion during the first four months of 2026, compared to just $63 million during the same period last year. This exceptional jump reflects a significant increase in local market demand and carries multiple implications, indicating rising actual demand for gold, whether to meet the needs of the jewelry market, which is beginning to regain activity, or to supply gold bars and coins as investors continue to flock to the precious metal as a hedging tool. It also reflects an increase in local market supply, which helps alleviate pressures resulting from supply shortages.
Amid diverse events and an important visit, and with the government relocating to its summer headquarters there, the new city of Alamein and the Egyptian North West Coast region have witnessed record attendance in recent days. Occupancy rates in hotels and tourist villages exceeded 90%, with strong interest in shops, restaurants, and various artistic events.
Recent reports indicated that the Alamein and North Coast areas saw a large influx of tourists from more than 100 nationalities at the start of the summer season, particularly from Gulf Arab countries and Europe, in addition to Egyptians and visitors from other Arab nations.
A report on Egypt’s industrial sectors for the four-month period from January to April 2026 showed that the cement industry recorded strong performance. Total cement production over the four months reached approximately 18.216 million tons, compared to 17.653 million tons during the same period in 2025, and 13.444 million tons during the same period in 2024.
The report noted that sales rose to 15.091 million tons during the first four months of 2026, compared to 14.106 million tons during the corresponding period in 2025, and 12.108 million tons during the same period in 2024.
