Gold prices inched down in domestic markets, on Thursday aimed turbulence in the global banking system.
Saeid Imbaby, a member of the Gold Division, said that the 21-carat gold decreased by EGP5 in domestic markets, reaching EGP1935 today.
The price of 24K gold reached EGP2212, while 14K gold decreased to EG1290 per gram, he added.
The price of 18 K gold decreased to EGP1500, while the gold pound sold at EGP15480 per gram.
Also, Imbaby expected gold prices to rise to historical levels in the global and local markets as a result of the latest international banking crisis, which pushes investors to gold as a safe haven.
He also noted that gold prices in the domestic markets inched up by EGP10 on Wednesday from EGP 1910 per gram to EGP 1940.
Contributed by Ahmed Emam
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