By The Rio Times | Created at 2026-10-09 06:07:03 | Updated at 2026-10-09 08:00:47
2 hours ago
BUSINESS · EGYPT
Key Facts
- —The country Egypt, where many households keep part of their savings in gold bars, coins and jewellery rather than in bank deposits alone.
- —Why it matters A big local bullion maker is moving gold sales from shop counters to card-operated machines, a test of how Egyptians want to buy small amounts of metal.
- —Why now BTC announced the official launch on Wednesday 7 October, after a trial phase that began in 2025 in Gulf markets and Egypt.
- —What happened The first official BTC machine stands in the Nile City Towers mall in Cairo. It sells gold bars of 0.25 to 2.5 grams and silver bars of 5 to 100 grams.
- —The numbers At the second-quarter average gold price of US$4,506 an ounce, those gold bars hold roughly US$36 to US$362 of metal, before BTC’s charges.
- —What it means for US readers Gold is priced in US dollars, so Federal Reserve decisions and dollar swings set what a Cairo shopper pays at the machine.
- —Still open Machine prices, sales volumes and the number and locations of further machines in Egypt have not been published.
Egypt’s first official BTC gold vending machine went live in Cairo this week. It sells small gold and silver bars to anyone with a bank card. The Egypt gold vending machine stands in the shopping mall at Nile City Towers. For foreign readers, it shows how far Egyptians now treat gold as an everyday savings product priced in US dollars.
BTC announced the launch on Wednesday 7 October. It describes itself as one of the leading gold and silver bullion companies in the Arab region. The Cairo business weekly Amwal Al Ghad and the English-language Daily News Egypt both carried the company’s statement.
According to that statement, the machine offers gold bars of 0.25 to 2.5 grams and silver bars of 5 to 100 grams. It also sells a selection of gold and silver coins. Payment is by card only.
From Shop Counter to Machine
The launch follows a trial phase that BTC began in 2025. The company placed machines at several sites in Gulf markets and tested the model in Egypt at the same time.
Hassan Nassar, chief executive of BTC, said the move reflects a plan to widen sales channels for gold and silver. He said technology would make buying simpler and more flexible. He said the trial helped the company develop the model before its official start in Egypt (translated from the Arabic statement).
Nassar added that the Nile City machine adds to BTC’s existing outlets and supports its push to widen access to bullion. The company has not said how many machines will follow, or where.
BTC calls this Egypt gold vending machine its first official one in the Egyptian market. It has not said whether any other company already runs similar machines in the country.
Follow this story
Get an email when there’s news on Egypt
Free. One email a day at most, and only when there is news. This also signs you up to our weekday newsletter, Africa Intelligence. Nothing arrives until you click the confirmation link, and you can stop either with one click. Privacy policy.
Who Is Behind BTC
BTC is a brand of KPM, an Egyptian precious metals group led by Nassar as chief executive. KPM’s other brands include GD&M for diamonds and jewellery, the jeweller Gemeva, and Odyssey, which sells art and furniture.
BTC says it operates in Saudi Arabia, the United Arab Emirates, Bahrain, Kuwait and Oman as well as Egypt. Its refinery in Obour, outside Cairo, won ISO/IEC 17025 accreditation from Egypt’s National Accreditation Council in March 2023, Amwal Al Ghad reported.
In October 2025 the company launched BTC DNA, a phone app that lets buyers scan a bar to check it. In August 2026 KPM and BTC said Guinness World Records had recognised their 2.12-metre gold bar as the world’s longest.
The brand has also pushed silver as a savings product. In January it began a silver awareness tour that it said would cover 31 locations across Egypt.
More on the Egyptian economy: Egypt Inflation Eases to 14.5%, but Rate Cuts Wait. For daily metals prices, see Gold Fund Gains 0.7% as Bullion Rebounds | Gold & Silver, Oct 8.
Rio Times · Live Market Intelligence
Commodities — Live Market Board
Global
Oct 9, 2026 · 02:34
Brent crude · benchmark
88.88
-0.03%
+34.42% over 12 months
Market breadth · 15 names
60% advancing
9 ▲ advancing6 declining ▼
Currencies, rates & key inputs
Full instrument board
| GOLD | 4,461 | +1.78% | +33.20% | 4,383 | 4,503 | 4,421 | 139,824 |
| SILVER | 65.59 | +1.26% | +73.05% | 64.77 | 66.98 | 64.81 | 46,406 |
| BRENT | 88.88 | -0.03% | +34.42% | 88.91 | 90.07 | 88.12 | 29,713 |
| WTI | 83.11 | -0.11% | +31.57% | 83.20 | 84.35 | 82.40 | 166,848 |
| COPPER | 6.61 | +0.03% | +46.70% | 6.61 | 6.71 | 6.61 | 39,543 |
| LITHIUM | 75.20 | +1.47% | +62.95% | 74.11 | 75.80 | 75.08 | 89,275 |
| IRON ORE | 161.91 | — | +58.10% | 161.91 | 161.91 | 1 | |
| SOY | 1,184 | +3.20% | +17.05% | 1,148 | 1,199 | 1,168 | 163,179 |
| CORN | 480.50 | +10.02% | +29.34% | 436.75 | 480.75 | 459.50 | 341,248 |
| WHEAT | 655.00 | +3.93% | +29.70% | 630.25 | 657.75 | 631.50 | 128,793 |
| COFFEE | 317.25 | -5.51% | +0.67% | 335.75 | 321.20 | 313.55 | 21,747 |
| SUGAR | 16.43 | -1.79% | -3.01% | 16.73 | 17.11 | 16.22 | 171,992 |
| COCOA | 5,719 | +3.18% | -34.96% | 5,543 | 5,779 | 5,574 | 26,773 |
| ORANGE JUICE | 138.55 | -0.47% | -45.38% | 139.20 | 141.05 | 137.50 | 703 |
| COTTON | 85.03 | +2.33% | +26.78% | 83.09 | 82.90 | 81.96 | 16,546 |
| BEEF | 223.60 | -3.93% | -5.18% | 232.75 | 226.40 | 223.00 | 16,126 |
| CATTLE | 339.10 | -3.16% | -1.82% | 350.17 | 345.50 | 338.60 | 10,164 |
| USD/BRL | 5.16 | +0.01% | -5.13% | 5.16 | 5.18 | 5.14 | — |
Largest moves today
CORN
480.50
+10.02%
COFFEE
317.25
-5.51%
WHEAT
655.00
+3.93%
BEEF
223.60
-3.93%
SOY
1,184
+3.20%
COCOA
5,719
+3.18%
CATTLE
339.10
-3.16%
COTTON
85.03
+2.33%
The session read
The Brent crude eased 0.03%, with breadth positive — 9 of 15 names higher. CORN led, while COFFEE lagged.
From The Rio Times
Related coverage · 8 Oct 2026
Copper Fund Slips 0.9% as Centinela Strike Begins | Copper, Oct 8
Read →
What It Means for US Readers
Gold trades worldwide in US dollars, so prices in Cairo move with decisions in Washington. When the Federal Reserve signals higher rates or the dollar strengthens, gold usually comes under pressure.
The World Gold Council, the gold industry’s market development body, made that link in its latest quarterly report. It said gold funds saw selling in the second quarter. One reason was higher inflation and interest rate expectations in North America, alongside a stronger dollar.
The same report put the average LBMA gold price at US$4,506.29 an ounce in the second quarter of 2026. That was 8 percent below the first-quarter record, but 37 percent higher than a year earlier.
Small sizes keep the entry price low. At the second-quarter average, the 0.25-gram bar holds about US$36 of gold and the 2.5-gram bar about US$362, before BTC‘s charges.
Worldwide, the council counted 307 tonnes of bar and coin investment in the second quarter, steady on a year earlier. Jewellery buying fell to its lowest quarterly volume since the pandemic, as high prices hurt affordability.
For US investors there is no direct stake here, since BTC is a private brand. The wider signal is that buying of bars and coins has held steady worldwide, even with gold above US$4,000 an ounce.
What Is Not Known
BTC has not published the machine’s prices or its making charges. It has also given no sales figures from the trial in the Gulf or Egypt.
The company has not named further sites in Egypt or given a timetable for more machines. It has also not said what daily or per-card purchase limits apply.
There is no public statement from Egypt’s central bank or other regulators about card-paid bullion machines.
Frequently Asked Questions
Where is the Egypt gold vending machine?
It stands in the Nile City Towers mall in Cairo. It is BTC’s first official vending machine for gold and silver bars and coins in Egypt. The company announced it on Wednesday 7 October 2026.
What can people buy from the machine?
The machine sells gold bars of 0.25 to 2.5 grams and silver bars of 5 to 100 grams. It also offers gold and silver coins. Customers pay with bank cards.
How much is the gold in the smallest bar worth?
At the World Gold Council’s second-quarter 2026 average price of US$4,506 an ounce, a 0.25-gram bar holds about US$36 of gold. BTC adds its own charges, and the machine prices have not been published.
Who owns BTC?
BTC is a brand of KPM, an Egyptian precious metals group whose chief executive is Hassan Nassar. KPM also owns the diamond and jewellery firms GD&M and Gemeva and the furniture and art brand Odyssey.
Does this affect US investors?
Not directly, as BTC is a private brand. But its prices follow the US dollar gold price, so US interest rates shape what Egyptian buyers pay.
Sources: BTC launch statement as published by Amwal Al Ghad (Arabic, 7 October 2026) and Daily News Egypt (7 October 2026); World Gold Council, Gold Demand Trends Q2 2026; Amwal Al Ghad on the BTC silver tour (January 2026).
Editorial responsibility: Matthias Camenzind, Editor-in-Chief · Editorial standards · Report an error
