Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Gold Prices Decline amid US July's Employment Data


Tue 03 Aug 2021 | 09:23 AM
walid Farouk

Gold prices declined on Tuesday as investors are still looking forward to US Employment data for July which will be released on Friday. Investors aim to detect the strength of the market through studying the forthcoming data of the employment situation in the US.

In the same context, gold prices were affected by a slight rise in the stocks markets in US stock exchange markets.

Amir Rizk, a member of Cairo’s Chamber of Commerce’s Gold Division, said that the prices of the valuable metal fell by EGP 4 due to gold ounces latest decline to reach $ 1812 in global exchange.

He added that 24-karat recorded EGP 908, while 21-karat was estimated at EGP 794, and 18-karat was sold at EGP 681. Regarding gold pound prices, it reached EGP 6352.

Finally, he said that the world economy faces instability due to COVID-19 which affects gold prices.

Contributed by Rana Atef