Maturity of Bank Certificates Unlikely to Trigger Strong Shift into Gold in Egypt

The maturity of bank certificates in Egypt has raised questions about whether investors will shift their funds into gold. Dr. Wasfi Wassef, Advisor to the Gold Manufacturing Division at the Federation of Egyptian Industries, said that this is unlikely to happen due to cautious investor sentiment and changing market conditions.

Wassef noted that current market conditions differ significantly from previous cycles, with ongoing geopolitical conflicts and uncertainty making it difficult to expect a significant surge in gold demand. He also stated that investors who rely on periodic interest payments from their deposits are unlikely to move their savings into gold, as the precious metal is generally considered a long-term investment.

Egypt's gold market is currently experiencing a balance between supply and demand, reducing the need for additional imports or exports to stabilize the market. Official data show notable shifts in Egypt's gold trade during 2026, with exports of gold and precious stones totaling approximately $2.25 billion during the first half of the year, down from around $3.9 billion in the corresponding period of 2025.