Gold prices declined, domestically, on Wednesday, as well as in the international markets due to the anticipation of the US Federal Reserve meeting on the interest rates.
Eid Youssef, the director of the Monfouia Chamber of Commerce's gold division, said that gold prices fell by EGP 5 in domestic markets.
Youssef added that the gram of 21-karat recorded EGP 2345, while the ounce of gold sold at $1962.
He continued that the gram of 18-karat reached EGP 2010, and 24-karat hit EGP 2680. The gold pound recorded EGP 18760.
In the same context, the latest data revealed a faster decline in Chinese exports last May as Chinese corporations faced some hardships in international demand, along with the fall of demands in domestic markets. Therefore, the US dollar slightly rose in early transactions.
Contributed by: Rana Atef
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