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Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Gold Prices Decline, 21-Karat at EGP3100


Mon 27 May 2024 | 03:29 PM
Gold Prices
Gold Prices
Nada Mustafa- Walid Farouk

Gold prices declined in local markets during Monday's trading, despite a rise in the ounce in the global market, driven by a weaker dollar and escalating geopolitical tensions in the Middle East. 

Markets are awaiting the release of U.S. economic data this week to gain insights into the Federal Reserve's monetary policy directions.

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 3100, while an ounce declined to $2344.

He added that a gram of 24 karat gold recorded EGP 3543, a gram of 18 karat gold recorded about EGP 2657, and a pound of gold recorded about EGP 24800.