Gold prices declined in local markets on Monday, driven by a drop in global markets due to the strength of the dollar, as markets await US employment data that will be crucial in determining the pace of potential interest rate cuts.
Saeed Embabi, CEO of the “iSagha” platform said that gold prices witnessed a decline by EGP 15 in the local markets during today’s trading, as a gram of 21 karat gold recorded EGP 3430, while an ounce declined to $2499.
He added that a gram of 24 karat gold recorded EGP 3920, a gram of 18 karat gold recorded about EGP 2940, and a pound of gold recorded about EGP 27440.
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