Gold Prices Rise by 175 Egyptian Pounds in One Week

Gold prices in the local markets increased by 8% during last week's trading, while the ounce declined by 5.5% in the global stock exchange at the end of Friday's trading.

Saeed Embabi, the Executive Director of the "ISagha" platform for online gold and jewelry trading, stated that gold prices rose by 175 Egyptian pounds in the local markets.

The price of 21-carat gold gram opened at 2,185 pounds, rose to 2,420 pounds, and closed at 2,360 pounds. The ounce in the global stock exchange increased by 101 dollars, starting at 1,832 dollars and ending at 1,933 dollars.

The 24-carat gram reached 2,697 pounds, the 18-carat gram reached 2,023 pounds, the 14-carat gram reached 1,574 pounds, and the gold pound reached 18,880 pounds.

The ongoing conflict between the Palestinian side and the occupying entity increases market uncertainty, leading investors to turn to gold as a safe haven. It is expected that gold prices will continue to rise in the global stock exchange as the crisis persists.