Gold prices remained stable in the local markets during Thursday's trading session amid the instability of the ounce price in the global market, along with the rise of the dollar.
Saeed Imbabi, the CEO of "iSagha," an online platform, stated that gold prices witnessed stability in the local markets today compared to the closing of yesterday's trading session.
The price of 21-karat reached EGP 2210, while the ounce recorded $1921 in the global stock exchange.
Furthermore, the price for 24-karat gold reached EGP 2526, 18-karat recorded EGP 1894, 14-karat reached EGP 1474, and the gold pound was priced at EGP 17,680.
Gold prices had increased by EGP 5 in the local markets during Wednesday's trading session.
The price of 21-karat opened at EGP 2205, dropped to EGP 2200, and closed at EGP 2210.
Meanwhile, the ounce in the global stock exchange decreased by $10, opening at $1927 and falling to $1917.
In a related context, Susan Collins, the President of the Federal Reserve in Boston, called for a patient approach to policymaking.
She stated that she needed more evidence to convince her that inflation has been tamed.
Collins said during remarks prepared for delivery in Boston that there might be a need for further increases depending on the data that will be released later, as reported by CNBC yesterday.
Contributed by Israa Farhan
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