Gold prices continued to rise in the local markets on Friday as global gold prices increased to $1754 per ounce.
Soaring prices are driven by a confluence of factors, including the expectations of reducing interest rates by the US Federal Reserve and, the latest decline in the U.S. dollar.
Saeed Imbaby, executive director of the “i Sagha” platform for trading gold and jewelry via the Internet, said that gold prices have risen over EGP30 this morning, as 21k gold reached EGP1430, while the global gold price reached $1754.
The price of 24K gold reached EGP1635, while 14K gold increased to EGP954 per gram, he announced.
The price of 18 K gold inched up to EGP1226, while the gold pound sold at EGP11440 per gram.
Contributed by Ahmed Emam
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