Gold Prices Fall by EGP 40, 21-Karat Records EGP 1175

On Wednesday, gold prices dropped by EGP 40 in local markets after the fall of ounces performance globally, recording $ 1840.

The main reasons for the prices decline are the interest rates of US bonds increase and the record-breaking performance of the US dollar.

Sied Embabi, the executive director of I Sagha platform, said that gold prices declined in the domestic markets today, and 21-karat was estimated at EGP 1175.

Embabi added that 24-karat reached EGP 1343, while 18-karat reached EGP 1007.

Finally, the gold pound was sold at EGP 9400.

Contributed by Rana Atef