Egypt’s Gold Reserves Near 130 Tonnes and Surpass $19 Billion

Mon Sep 07 2026

The Central Bank of Egypt’s net international reserves increased by approximately $920.6 million in August, reaching a record $57.214 billion, up from $56.294 billion at the end of July.

The increase marked the 48th consecutive monthly rise in Egypt’s international reserves and took the total above $57 billion for the first time.

A detailed review of Central Bank data shows that the monthly increase was primarily driven by a sharp rise in the value of gold holdings, which gained approximately $1.92 billion to reach $19.06 billion at the end of August, compared with about $17.14 billion in July.

The rise in the value of the gold component reflected two factors: an increase in the quantity held by the Central Bank and higher international gold prices. However, price appreciation had the greater impact on the value recorded within the reserves.

The Central Bank purchased around 8,000 troy ounces of gold during August, equivalent to approximately 249 kilograms. The purchase lifted its total holdings to about 4.17 million ounces, or nearly 129.7 tonnes.

Although the additional purchases increased the physical volume of Egypt’s holdings, they do not alone explain the $1.92 billion rise in their value. Indicative calculations suggest that the gold added during the month was worth about $37 million at end-August valuation levels, meaning that most of the increase resulted from higher international prices and the revaluation of existing holdings.

Gold’s share of Egypt’s total international reserves consequently rose to approximately 33.3% at the end of August, compared with about 30.4% in July, highlighting the metal’s growing weight within the country’s reserve structure.

By contrast, foreign-currency holdings declined for the first time in six months, falling by approximately $1.16 billion to about $37.55 billion in August, from nearly $38.71 billion at the end of July.

This decline shows that the record increase in Egypt’s reserves was not driven by a rise in liquid foreign-currency assets. Instead, it was achieved despite their contraction, as gains in the gold component more than offset the decrease.

Egypt’s Special Drawing Rights, an international reserve asset created by the International Monetary Fund, also increased by about $160 million to $606 million, compared with approximately $446 million in July.

At the end of August, Egypt’s international reserves comprised approximately $37.55 billion in foreign currencies, $19.06 billion in gold and $606 million in Special Drawing Rights, subject to minor differences caused by rounding.

Marsad Al Dahab for Economic Studies said the data reflected the growing role of gold within Egypt’s international reserves, supported by both additional purchases and the higher market value of the country’s existing holdings.

However, the increase in the dollar value of gold reserves should not be viewed as equivalent to an inflow of liquid foreign currency. Most of the rise reflected the revaluation of existing holdings as international gold prices increased.

The figures also highlight a significant change in the composition of Egypt’s reserves. While the total reached a new record, the share represented by gold increased as foreign-currency assets declined.

Gold can strengthen reserve diversification and provide protection against economic and geopolitical risks. Nevertheless, foreign-currency assets remain essential for financing imports, servicing external debt and meeting the country’s international obligations.

August’s figures therefore present a mixed picture: Egypt increased its physical gold holdings and benefited from rising prices, while its foreign-currency component declined. The strong valuation gains in gold ultimately outweighed that fall and lifted total reserves to a new historic high.

Source: https://see.news