Gold prices declined in local markets during today’s trading, due to the decline in the ounce of gold price in the global stock exchange by 0.3%, as a result of the dollar’s rise.
This came ahead of Jerome Powell, Federal Reserve Chairman’s speech this week.
Dr.Wadie Antwan, Deputy head of gold pision at Federation of Egyptian Chambers of Commerce, said that gold prices dropped slightly in the local market, 21-carat recorded EGP 785, while the gold ounce price recorded $ 1789.
Antwan added that 24-carat recorded EGP 897, and 18-carat is at EGP 673, while the gold pound recorded EGP 6280.
Powell is set to give a speech before the US Central Bank's annual economic symposium next Friday.
Contributed by Nada Mustafa
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