Egypt's Central Bank Boosts Gold Reserves Amid Global Trend
The Central Bank of Egypt has significantly increased its gold reserves in recent years, shifting towards a more diversified reserve management strategy. According to Marsad Al Dahab's analysis, the bank's holdings rose from around 75 tonnes for decades to nearly 130 tonnes by August 2026. The value of gold within international reserves increased to $19.058 billion at the end of August, with about one-third attributed to gold.
The Central Bank's gold holdings now stand at approximately 4.177 million ounces, a 17,900-ounce increase since January 2026. This growth reflects a global trend among central banks, which are increasingly allocating more funds to gold reserves as a way to reduce their reliance on the US dollar and diversify their assets.
The bank's purchases of locally produced gold through its agreements with Sukari Gold Mines and Shalateen Mineral Resources have contributed significantly to this increase. These arrangements allow for the conversion of part of Egypt's mineral wealth into sovereign reserve assets, reducing the need for foreign currency to buy gold on international markets.