Gold Prices Increase, 21-Karat at EGP 2180

Gold prices rose slightly in the local markets during today’s trading, Wednesday, in light of the rise in ounces on the global stock exchange, due to the decline in the dollar.

The markets are awaiting the release of US inflation data later today, in addition to the release of producer price data, tomorrow, Thursday, which will have an impact on the directions of the US Federal Reserve's monetary policy at this month's meeting.

Saeed Imbaby, the executive director of the “iSagha” platform, said gold prices rose by EGP 5 in local markets with the start of today’s dealings, so that the price of 21-karat recorded EGP 2180, while the ounce rose by $3, to hit $1,934.

He added that 24-karat gold recorded EGP 2492, 18-karat was estimated at EGP 1869, 14-karat hit EGP 1454, and a pound of gold recorded EGP 17440.

Gold prices rose by EGP 5 in local markets during yesterday’s trading, Tuesday, as 21-karat gold opened trading at EGP 2170 and touched at EGP 2190, and closed transactions at EGP 2175, while the ounce rose by a value of $6, as it opened transactions at $1925. , and touched at $1940, and closed the transactions at $1931.

Contributed by Israa Farhan