Gold prices rose in the Egyptian market by about EGP 6 in conjunction with the rise in the ounce globally to $1609, according to Nady Naguib, the secretary of the gold pision at the Federation of Egyptian Chambers of Commerce (FEDCOC).
Naguib said on Wednesday that the price of 18K recorded EGP 596, while the price of 21K reached about EGP 696, and the 24K reached about EGP 796.
He pointed out that the price of the 8g golden coin rose to the level of EGP 5568.
Globally, gold prices rose in early trading on Wednesday, with the anticipation of the Federal Reserve minutes and the economic impact of the coronavirus.
The gains in the prices of the yellow metal came despite the rise witnessed in stock markets, and amid improved risk sentiment on the back of the decline in new death rates, about 2000 cases, for the second day in a row.
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