Gold prices in local markets witnessed a sharp decline during today's trading, Tuesday, in line with a strong drop in the ounce on the global stock exchange due to profit-taking and a decrease in geopolitical tensions in the Middle East.
Markets are awaiting US inflation data next Friday, as well as the Federal Reserve meeting on May 1st to determine the fate of interest rates.
Saeed Embabi, CEO of the “iSagha” platform said that gold prices witnessed a decline by EGP 35 in the local markets during today’s trading, as a gram of 21 karat gold recorded EGP 3110, while an ounce declined to $2301.
He added that a gram of 24 karat gold recorded EGP 3554, a gram of 18 karat gold recorded about EGP 2666, and a pound of gold recorded about EGP 24880.
Follow the latest news on Google News
