Gold Price Today: Spot Gold Holds Near $4,927 as Volatility Surges and Local Egypt Benchmarks Reprice

Gold is trading sharply higher today, with spot prices hovering around $4,927 per troy ounce as of Tuesday, February 3, 2026, 9:23 a.m. ET. That puts the metal near $158.39 per gram in US dollar terms, after a powerful rebound session that has revived the year’s dominant narrative: gold is moving like a macro asset again, not a sleepy store of value.

Even for longtime gold-watchers, today’s action stands out. The market has been swinging hard in recent sessions, and today’s jump follows a steep pullback that flushed out leveraged positions. When gold snaps back after a washout, it often does so violently, because short covering and renewed safe-haven demand can pile on at the same time.

Gold spot price today in USD

Here are the most-used global reference points, based on live spot pricing at the time above:

• Spot gold per ounce: about $4,927

• Spot gold per gram: about $158.39

If you track the metal through exchange-traded products, those can move a bit differently intraday because of market hours, liquidity, and fund mechanics. But spot remains the cleanest benchmark for “what is gold worth right now.”

Gold price today in Egypt, estimated in EGP

Because you are in Egypt, the number people usually care about is the per-gram price in Egyptian pounds. Using a USD to EGP rate around 47.13 EGP per 1 USD, the implied baseline is:

• 24K gold per gram, theoretical: about 7,465 EGP

• 21K gold per gram, theoretical: about 6,532 EGP

• 18K gold per gram, theoretical: about 5,599 EGP

Important: These are spot-implied numbers. Real “shop prices” in Egypt can be higher due to premiums, manufacturing charges, dealer spreads, and taxes. Bars and coins often carry different premiums than jewelry.

What’s driving gold today

Gold’s biggest daily moves usually come from a few overlapping forces:

• Currency swings: Gold often rises when the dollar weakens and falls when the dollar strengthens. Fast FX moves can translate into fast gold moves.

• Rates and expectations: When traders think future interest rates will fall, gold can catch a bid because the opportunity cost of holding a non-yielding asset drops.

• Risk sentiment: When investors feel uncertain about growth, geopolitics, or financial stability, gold tends to benefit as a defensive allocation.

• Positioning and leverage: Today’s action also looks like a classic positioning reset. After a sharp selloff, short covering can accelerate a rebound, especially when liquidity is thin and volatility is elevated.

Context: where gold sits versus recent highs

Gold has been in a powerful uptrend into early 2026, recently printing record territory around the mid-$5,500s per ounce before pulling back. Today’s level near $4,927 is still historically extreme, but it shows how quickly the market can reprice when momentum shifts.

That matters for anyone buying physical gold: volatility can change the difference between a “good price” and a “great price” within hours, and local premiums can widen when demand spikes.

What to watch next

If you’re tracking gold for a purchase, a hedge, or a trade, these are the practical signals that tend to matter over the next one to three sessions:

• Whether gold can hold above key round levels like $4,900 per ounce. If it fails, dealers often widen spreads and volatility stays high.

• Dollar direction and local exchange rate changes. In Egypt, the EGP price can move even if spot gold is flat, simply because USD to EGP shifts.

• Local premium behavior. When people rush to buy bars or coins, premiums can rise faster than the global spot price.

• Follow-through. Big rebound days sometimes fade the next session. Sustained strength usually requires a second day of buying, not just a snapback.

If you tell me which unit you want (ounce, gram, or “24K per gram in EGP”) and whether you mean bars, coins, or jewelry, I can format the numbers the way you’d actually use them.