Gold rose by 9%, domestically, last week, followed by a 2.4% rise in the gold ounce in the international markets.
The yellow metal jumped after the fall of the US dollar and the interest of the US bonds.
The majority of expectations pointed out the possibility of more increases in interest rates by the US Federal Reserve by 5.25% and 5.5%.
The CEO of Isagha Saied Embabi said that 21-karat opened the weekly transaction at EGP 1678, and closed at EGP 1830.
On the other hand, the gold ounce opened the weekly transaction at $1811 and closed at $1855.
He highlighted that the 24-karat reached EGP 2092, on the other hand, the 18-karat hit EGP 1569.
In the same context, 14-karat was sold at EGP 1220, and the gold pound was recorded at EGP 14640.
Embabi explained that domestic sales increased last week. However, the Egyptian market is anticipating the outcome of the upcoming meeting of the Central Bank of Egypt by the end of March.
Contributed by: Rana Atef
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