Gold Prices Decline, 21-Karat Records EGP 1150

Gold prices declined in local markets during Thursday trading amidst the stability of an ounce on the global stock exchange.

The decline was driven by the rise of US Treasury yields and the US dollar surge to its highest level.

Said Imbabi, executive director of the “iSagha” platform for gold and jewelry trading, said that gold prices fell by EGP 15 during the trading.

He added that the 21-karat recorded EGP 1150, 24-karat reached EGP 1315, 18-karat is sold at EGP 986, and the gold pound recorded EGP 8120.

Contributed by Yara Sameh