Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

21-Karat Hits EGP 4000 Ahead of US Fed Interest Meeting


Gold Service

Tue 30 Jan 2024 | 06:41 PM
Waleed Farouk

The prices of gold jumped in domestic markets, Tuesday, following an increase in the yellow ounce prices in international markets.

The latest move was driven by a decline in the USD and the revenues of the US bond ahead of the meeting of the US Fed's monetary committee on the interest rates.

Saied Embabi, the executive director of the Isagha platform, said that the average of gold prices jumped, domestically and the gram of 21-karat hit EGP 4000. Internationally, the price of an ounce surged by $6 to record $2035.

Embabi continued that the gram of 24-karat recorded EGP 4527, 18-karat hit EGP 3429, and 14-karat estimated at EGP 2667. The gold pound recorded EGP 32000.

In the same context, world markets are anticipating the decisions of the US Fed's monetary committee on the interest rates meeting.

Contributed by: Rana Atef