President Mohammed Mursi said he would not leave Gaza on its own and condemned Israel’s “blatant aggression”, hours after his prime minister visited Gaza.
Israel mounted a huge attack overnight, targeting dozens of locations. Later, Gaza militants targeted Tel Aviv with a missile but there were no casualties.
Twenty Palestinians and three Israelis have been killed since Wednesday.
Militants and civilians, including at least five children, were among the Palestinian dead, Palestinian officials said.
Two Israeli women and a man died when a rocket fired from Gaza hit a building in the southern town of Kiryat Malachi on Thursday, Israeli officials said.
The Israeli army began an initial draft of 16,000 reservists on Friday, after the government authorized the call-up of 30,000.
Rumors have been swirling that a ground attack is imminent, but Israeli officials have said no decision has yet been made.
Israel targeted more than 130 locations in an overnight assault it said was aimed at knocking out rocket-firing facilities.
Sporadic Israeli air strikes have continued throughout Friday, and militants in Gaza have fired dozens of rockets.
Mohammed Mursi sent Prime Minister Hisham Qandil to the territory for a three-hour visit on Friday to show solidarity with the Palestinians.
“Egypt will not leave Gaza on its own, and what is happening is a blatant aggression against humanity,” the president said shortly after Hisham Qandil returned from Gaza.
Ties between Hamas and Egypt have strengthened since Mohammed Mursi’s election earlier this year.
Hamas was formed as an offshoot of the Muslim Brotherhood, to which Mohammed Mursi belongs.
Meanwhile, the Israeli city of Tel Aviv, some 75 km (45 miles) north of Gaza, came under attack for a second day.
A missile launched from Gaza sparked panic in the city and air-raid sirens once again sounded.
The missile appears to have done no harm, with police officials quoted variously as saying it had landed in the sea or in an unpopulated area.
It is the first time Tel Aviv has come under attack since the 1991 Gulf War.
Analysts say it is the first time Gaza militants have deployed such powerful missiles.
Western leaders have appealed for both sides to stop the escalation in violence.
Britain and Germany both said Hamas bears the brunt of the blame and should stop firing rockets immediately.
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