Gold prices jumped by EGP200, about 12%, on Saturday, while the international price increased slightly by 44% to $1798 per ounce, as Federal Reserve Chairman Jerome Powell confirmed that the US Federal will ease its decisions going forward.
Saeed Imbaby, executive director of the “i Sagha” platform for trading gold and jewelry via the Internet, said that the 21-carat gold increased in domestic markets, reaching EGP1650 at the end of this week to its historical highest for three months.
The price of 24K gold reached EGP1886, while 14K gold increased to EGP1100 per gram, he announced.
The price of 18 K gold inched UP to EGP1226, while the gold pound sold at EGP13200 per gram.
He also noted that gold prices in the domestic markets differ from the international markets, as the gold dealers claimed that gold saw high demand as a safe investment.
Contributed by Ahmed Emam
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