Gold Prices Decline, 21-Karat Records EGP 786

Gold prices continued to drop in local markets today, Wednesday, following the fall of gold ounces prices in the global exchange, recording $ 1790.

US Federal Reserve's direction towards lifting the economic stimulations measures is the main motive of such decline.

Therefore, Hani Milad, the head of the Gold Division at the Federation of Egyptian Chambers of Commerce, said that 21-karat was estimated at EGP 786.

On the other hand, 24-karat was sold at EGP 898, while 18-karat was traded at EGP 674.

Finally, the gold pound reached EGP 6288.

Contributed by: Rana Atef