Gold prices experienced significant movement on Friday, February 20, 2026, amid a stable dollar and anticipation surrounding potential interest rate cuts. The precious metal faced downward pressure as the U.S. Dollar held firm near a one-week high, supported by comments from Federal Reserve members suggesting a prolonged period of elevated interest rates.
Currently, gold is trading at the following prices in the local market:
- 24-karat gold: 7,657 Egyptian pounds
- 21-karat gold: 6,700 Egyptian pounds
- 18-karat gold: 5,742 Egyptian pounds
- Gold pound: 53,600 Egyptian pounds
Market expectations point to a potential first interest rate reduction in June, though there is disagreement among traders regarding the total number of cuts expected this year, ranging from two to three. This uncertainty reflects caution due to continued strength in U.S. Economic data.
Despite this, J.P. Morgan suggests that talk of a sustained downturn in gold prices may be premature. According to Investing.com, Nikolaos Panigirtzoglou, J.P. Morgan’s chief strategist, believes gold could surge to between $8,000 and $8,500 per ounce if investment portfolios continue to shift.
This outlook contrasts with recent predictions from J.P. Morgan, which previously indicated a potential price of $6,300 per ounce by the end of the year, as reported by Mobtada. The evolving forecasts highlight the dynamic nature of the gold market and the influence of macroeconomic factors.
UBS bank anticipates gold reaching $6,200 as geopolitical tensions in the Middle East escalate, according to information direct. This underscores the impact of global events on investor sentiment towards safe-haven assets.
The recent fluctuations in gold prices, as noted by Youm7 and Mobtada, demonstrate the complex interplay of economic indicators and geopolitical factors influencing the market.
